Solana’s Plunge: Profit Takers Feast, HODLers Weep 😢💸

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Ah, the fickle dance of the markets! Solana, once the darling of August’s frenzied optimism, now lies prostrate, its price cooled like yesterday’s borscht. In the past week, it has traded flat-a stagnant pond in the vast ocean of crypto volatility. And in the last 24 hours? A slip of 1.1

Profit-taking, that voracious beast, has sunk its teeth into Solana’s flesh. Another metric, lurking in the shadows, has turned as bearish as a Siberian winter. Together, they cast doubt on Solana’s ability to ascend further, at least not without shedding a few more tears-and tokens.

Two Metrics Whisper of Greed and Fear

Behold, the on-chain data reveals a grim truth: nearly 95

History, that relentless teacher, confirms this. Recall August 2, when the profit supply plummeted below 54

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The HODL Waves metric, that silent observer of human folly, tells a similar tale. Short-term holders-those who clung to their tokens for a mere week to three months-peaked on August 19, when Solana traded near $176. Together, they controlled 27

Weak Money Inflows: The Canary in the Coal Mine

On the price chart, Solana faces resistance at $218, a fortress as impenetrable as the Kremlin walls. A clean close above this level would signal a breakout, but hope is as scarce as a kind word in a Soviet labor camp. The Chaikin Money Flow (CMF), that harbinger of buying or selling pressure, has weakened like a dissident’s resolve under interrogation. On July 22, when Solana hit a local high, CMF stood at 0.31, a sign of robust inflows. Since then, the price has climbed, but CMF has plummeted to -0.01.

This divergence is a silent scream: whales and institutions are not pouring fresh money into SOL. Without their support, profit-takers face little resistance, leaving rallies as fragile as a snowflake in spring. The absence of offsetting demand makes a deeper pullback more likely than a respite, should key supports falter.

On the downside, support levels await at $194, $186, and $173, like lifeboats on a sinking ship. For now, Solana holds steady, but unless CMF improves, any hope of recovery remains as distant as a fair trial in a totalitarian regime.

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2025-09-05 18:33