Solana (SOL) recorded a 14% weekly price decline, yet on-chain metrics indicate a significant uptick in accumulation by long-term holders, potentially foreshadowing a market rebound. The unusual divergence between price action and holder behavior presents a notable shift in investor sentiment.
Key on-chain indicators support this outlook. The Network Liveliness metric fell to 0.76, marking its lowest weekly level since July 25. This reduction signals decreased movement of dormant tokens and reinforces long-term holding patterns. Simultaneously, the Hodler Net Position Change metric surged 102% since July 30, reflecting intensified accumulation by committed holders amid the downturn.
Further supporting a potential market bottom, Solana’s Realized Profit/Loss Ratio plummeted to 0.15 on August 2—a 30-day low. Historically, such extreme levels of net realized losses correlate with capitulation events and often precede price recoveries. This metric suggests widespread selling at a loss before corrective rebounds.
Technically, Solana holds crucial support at $158.80 while trading at $160.55. Should this level sustain, upside resistance appears near $176.33, while failure may test the subsequent support level at $145.90. Market watchers interpret these metrics as foundational strength beneath recent volatility.