Will Solana’s Price Trajectory Be Defined By Losses?

Solana (SOL) is currently in a critical phase, trading within a descending channel pattern, reflecting growing investor uncertainty. Analysis of exchange net position change shows oscillating accumulation and distribution, though recent outflows suggest selling currently outweighs buying, leaving the short-term outlook vulnerable. Furthermore, the Realized Profit/Loss Ratio indicates that losses are dominating as holders sell at lower prices, reinforcing bearish sentiment. The price action is dependent on whether SOL finds support within the channel or breaks down, potentially targeting $123 or $118 if bearish pressure continues. A successful bounce off the channel support, challenging the $146 resistance, could initiate a recovery toward $151 and $157, but this requires a significant shift in market conditions.

(Source：BeInCrypto)