Post

This wave of $SOL is really weak, while $BTC and $ETH are both oscillating upwards, $SOL is oscillating downwards. 1. The 6 spot ETFs of SOL have had zero net inflow for 54 consecutive days from the 3rd to the 6th, it seems the institutional players are losing steam, with no new buying support. 2. Moreover, it has dropped 10.34% in the last 30 days, breaking technical levels, falling below several short-term moving averages, which can be considered entering a downtrend channel. 3. There haven't been any positive catalysts recently, so it seems hard for it to break out with volume and hold above. The burn vote on the 18th might be a hope, but it requires 15% staking support, which is uncertain. 4. Mainly, I don't see any improvement in the macro environment either, so it's still hard for it to strengthen. For friends wanting to bottom-fish, I suggest waiting a bit longer.