Solana’s committed investors are increasing their SOL token holdings amid recent market downturns, signaling robust confidence and a potential local bottom for the asset.
Data reveals long-term holders boosted their net SOL position by 102% since late July, indicating strategic accumulation at current price levels despite volatility. This aligns with SOL’s Realized Profit/Loss Ratio hitting a 30-day low of 0.15 on August 2, suggesting most recent sellers exited positions at a loss.
Technical indicators further support the accumulation trend: Solana’s price struggles below the $165 resistance, while its Relative Strength Index (RSI) reads 41.65 – nearing oversold territory. Additionally, a flattening On-Balance Volume (OBV) metric points to waning downward momentum.
The convergence of persistent accumulation by long-term holders and key technical signals suggests SOL may be approaching a price stabilization phase.