Recently, the performance of SOL has indeed been nerve-wracking. However, today I came across an interesting data point — the US ETF saw a net inflow of 1.48 million USD in a single day, and this detail is worth pondering.

On the surface, 1.48 million may not seem like a large number. But the key point is — at a time when the market is in panic and retail investors are cutting losses, large asset management firms like Fidelity and VanEck are continuing to buy. The signal behind this is very clear: they believe that this price level is attractive from a long-term perspective. This is not short-term trading but a strategic layout for the future.

However, there is something to be cautious about. The institutional buying may indeed indicate some support below, but it does not mean an immediate reversal or sharp rise. On the contrary, based on historical experience, major players often use such positive news to create repeated oscillations, aiming to thoroughly shake out unstable investors.

From a technical perspective, the situation remains not very optimistic. The resistance at 130-135 above is significant, with a large amount of trapped positions. Without a clear volume breakout above 130, the current rise can only be regarded as a rebound. More importantly, the support at 123 — it now acts like a dividing line. The MACD indicator is still below the zero line, indicating that the bearish momentum has not weakened.

If the 123 support fails, there are deeper declines waiting below. That’s why the upcoming trend requires close attention.