Solana Long Term Holder Capitulation Reaches 3-Year High As Price Nears Losing $80

Solana (SOL) is facing sustained selling pressure, trading near $80 as its price extends a three-week downtrend, exacerbated by weakening long-term holder (LTH) conviction. On-chain data shows Solana's supply in profit has fallen to 15%, the lowest since November 2022, which usually signals a stabilization phase but is currently overridden by macro weakness. A key indicator, Liveliness, has spiked, suggesting LTHs are distributing tokens rather than accumulating, reflecting eroding confidence. This selling followed the LTH Net Unrealized Profit and Loss (NUPL) dropping below zero in late January, marking capitulation—the first time since May 2022. If this selling continues and the downtrend holds, SOL risks breaking the $79 support and potentially falling toward $70. A recovery would require a halt in LTH selling and a decisive breach above the $88 resistance level.

(Source：BeInCrypto)