Solana Rebounds After Sell-Off as Big Money Returns — Why $120 Matters Next

Solana (SOL) is showing signs of stabilization and has rebounded nearly 8% from its low of $95.87 after a sharp 15.5% sell-off, hitting a technical breakdown target. This recovery is supported by improving capital flows, evidenced by the Chaikin Money Flow (CMF) showing a bullish divergence, suggesting large investors accumulated near the support zone. Furthermore, long-term holders have remained patient, as indicated by falling liveliness data, suggesting they did not panic sell. However, short-term traders have increased their holdings, which could introduce volatility. The key determinant for a sustained rally is the $120.88 level, which aligns with a major breakdown point and the 20-day EMA. Reclaiming this level would signal the end of the correction, while failure to hold the $95.87 support opens the door to further downside.

(Source：BeInCrypto)