$202 Million Solana Outflows Trigger First Capitulation Signal Since 2022
Over $202 million in Solana (SOL) has moved to exchanges, triggering the first capitulation signal since 2022 amid market pressure.Summary
Solana (SOL) is facing sustained selling pressure, evidenced by approximately $202 million worth of SOL—or 2.35 million tokens—moving to exchanges over the past 17 days. This significant influx of sell-side liquidity has revived capitulation signals not seen since 2022.
On-chain data confirms this bearish trend, as Solana's Market Value to Realized Value (MVRV) ratio has remained below the 0.8 threshold for 26% of recent trading sessions, indicating a prolonged undervaluation phase comparable only to the period preceding the May 2022 crash.
At the time of writing, SOL trades around $86, capped below $90 resistance while holding above $81 support. A break below $81 could lead to a drop toward $67, whereas reclaiming $90 and breaking the descending trendline might signal a technical improvement, potentially leading to a rally toward $105.
(Source：BeInCrypto)