The market structure for $SOL has officially shifted bearish. The clean break below the $120 support level is a major signal, driven by a confluence of institutional outflows and macro pressure.
We're seeing clear signs of weakness from larger players. Solana ETFs just registered $2.2M in outflows, and its associated trust is trading at a significant 12% discount to NAV. This lack of institutional demand is creating heavy selling pressure. This was compounded by a macro-driven silver crash that sparked $770M in crypto liquidations, disproportionately affecting high-beta assets like $SOL
Technicals are confirming the downside momentum. The RSI sits at 36 with a bearish MACD crossover, suggesting sellers are in control.
Verdict: Bearish. The loss of $120 opens up a path to the next major liquidity zone at the $110 target.
Watching the market structure on $XRP closely today. After weeks of tight consolidation, we're seeing signs of serious strength and momentum building. This is notable because it's happening while #BTC experiences wild swings, a reminder of the market's volatility.
This long consolidation in #XRP could be building a significant liquidity base. A breakout from this multi-week range could be explosive. While the macro environment is choppy, $XRP 的韧性是一个值得注意的信号。