Solana Long-Term Holders Increase Accumulation Amid Price Drop, Potential Local Bottom Signals Emerging

Key Points

1. Long-term holders increased their net position by 102% since late July, indicating strong confidence in SOL's value at current levels.

2. The Realized Profit/Loss Ratio for SOL reached a 30-day low of 0.15 on August 2, showing recent sellers mostly exited at a loss.

3. Solana's RSI stands at 41.65, approaching oversold territory, which often precedes price stabilization.

4. Technical analysis shows SOL struggling below $165, but flattening OBV suggests downward momentum may be waning.

5. The accumulation by long-term holders and key technical indicators suggest SOL may be close to a local bottom.