Solana Price Faces Major Obstacles on Path Back to $100
BeInCrypto
Solana's price struggles to reach $100 due to bearish signals from exchange inflows and a Spent Output Profit Ratio below 1.0, despite support from long-term holders.Summary
Solana has been consolidating for weeks, unable to gain sustained momentum as bearish market conditions prevail. Exchange data reveals consistent inflows of SOL, indicating investors are preparing to sell, while the Spent Output Profit Ratio (SOPR) remaining below 1.0 suggests coins are being sold at a loss. However, long-term holders (LTHs) are actively accumulating, providing some relief and preventing a significant downside break. Currently trading around $87, Solana faces resistance at $91 and support at $81, remaining rangebound. A shift in LTH behavior towards selling could trigger a drop below $81, potentially testing the $76 support level.
(Source：BeInCrypto)