Solana is not a currency that moves quietly, but it also doesn't drop without a message. What we are currently witnessing on the SOL/USDT chart is a delicate transitional phase, where the market is shifting from a 'rush' mindset to a 're-evaluation' mindset.
The peak: when the price preceded conviction
Reaching the area 148.74 was not an ordinary event, but came after a strong upward wave driven by high psychological momentum and excessive confidence in the continuation of the trend.
But it is noteworthy that the peak was not followed by a long distribution phase, but rather a relatively quick reversal, indicating that the price rose faster than what real demand can bear.
This is an important signal:
The market did not reject Solana, but it rejected the price at those levels.
The drop: correction or breach of confidence?
The transition from the peak to the bottom 117.15 was sharp, but not chaotic.
The consecutive bearish candles reflect:
Institutional profit-taking
Exit of late traders
Returning the price to more 'fair' areas
The important thing here is that the drop stopped at a clear area, and did not turn into an open collapse, indicating that the demand is still present but waiting for the right price.
Area 120–125: Decision ground
The current trading near 125.62 places the price in a pivotal area:
Not low enough to trigger panic
And it is not high enough to reignite enthusiasm
These areas are usually a stage for the following:
A struggle between those who see the drop as an opportunity
And whoever fears it to be just a temporary rebound
The consolidation here is not weakness, but a market decision pause.
Volume: what is not said is more important than what is said
Despite the drop, we did not witness a negative volume explosion, and this is a relatively reassuring factor.
The absence of volume panic means:
There is no comprehensive liquidation wave
The selling was more organized than emotional
The big liquidity has not completely left the scene
In other words: the market is correcting, not fleeing.
The upcoming scenarios
Gradual positive scenario:
Staying above 122–120 may allow for building a price base that paves the way for a slow return towards 135 then 142, but with less momentum and higher realism.
Re-testing scenario:
Returning to 118–117 without a sharp break could be a retest of support, not a sign of weakness.
The negative scenario:
A clear break below 115 will mean that the market has not finished re-pricing yet, and opens the door to deeper levels.
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