- In the dazzling amphitheater of finance, the Solana bulls pirouette upward, tutus aflame, and have outpaced the stately waltz of mere mortals in days rather than months.
- Yet with prosperity comes that eternal bore—profit-taking! A stampede of sellers may soon jitterbug in, stepping on the toes of our euphoric bulls.
Solana [SOL], that most theatrical of tokens, has watched its Total Value Locked (TVL) reclaim February’s glamour, although its price remains—how tragically poetic—nearly 40% lower. In other words, the fundamentals are so bullish they may require a monocle and top hat.
Of course, one shouldn’t let fundamentals get in the way of a good panic: the high NVT values (which, for the uninitiated, is not a new model of sports car) have some declaring SOL hopelessly overvalued. Oh, economists—the only people who see clouds on a sunny day! ☁️☀️
Despite Solana’s potential to enrapture us further, the so-called whales have been as absent as sobriety at a Wildean dinner party. The circulating supply distribution metric—crunchy as yesterday’s toast—says the big fish are yet to swarm.
Post the November 2023-March 2024 rally, which saw SOL pirouette from $20 to a peacock-feathered $160, those with 100k SOL or more showed their appreciation by adding to their stashes, as did the respectable 1k+ crowd.
Interestingly, these noble hoarders preferred to join only after the limelight; foreplay, dear reader, is apparently overrated in crypto. Price leaps are no longer the province of anticipation, but rather, glorious improvisation.
Meanwhile, some desperate holders finally found an audience in November’s price surge, no doubt selling at a “profit” so lamentable that even Dickens would weep.
So, the 100k+ club’s reluctance isn’t enough to dash bullish hopes. Yet, beware the SOPR—a three-letter acronym more ominous than ‘IRS’—as it could deliver a most unromantic twist for holders.
Solana Rubs Its Shoulders Against the Imposing $180 Ceiling 🎩
At time of writing—please keep your fainting couches handy—the Spent Output Profit Ratio (SOPR) rests at 1.16. For those unversed in economic haiku, this simply means holders are selling at a profit (for now).
Historically, every time the SOPR straddled 1.06-1.1, Solana’s price flung itself off a balcony worthy of the most dramatic opera. A repeat performance may well be booked for this evening.
This isn’t mere superstition; cold technical analysis agrees. The past six months echo with the persistent drone of retracements, like an unruly parrot in a stately home. 🦜
On the hallowed 1-day chart, the structure is—how shall one say?—extraordinarily bullish. The token has reclaimed ground lost in Q1’s melodramatic tumble, even retesting $143 as support before spiraling up to $178 in a fit of optimism.
But alas, $180 is the fortress that will not be breached, a resistance since mid-February, defended by grumpy gatekeepers. The Awesome Oscillator, meanwhile, delivers more bullish signals than a romance novel, and the rising OBV hints that demand is the one thing Solana does not lack.
Yet, with profits blooming, don’t be surprised if the garden gets trampled by a stampede of profit-takers, SOPR numbers in hand. Patient would-be investors might do well to lurk in the $150-$160 bushes, ready to pounce, provided OBV keeps donning its best risqué stockings.
Read More
- 50 Goal Sound ID Codes for Blue Lock Rivals
- Quarantine Zone: The Last Check Beginner’s Guide
- 50 Ankle Break & Score Sound ID Codes for Basketball Zero
- Lucky Offense Tier List & Reroll Guide
- Ultimate Myth Idle RPG Tier List & Reroll Guide
- Mirren Star Legends Tier List [Global Release] (May 2025)
- Should You Save Vidar Or Give Him To The Children Of Morrigan In Tainted Grail: The Fall Of Avalon?
- Enshrouded Hemotoxin Crisis: How to Disable the Curse and Save Your Sanity!
- Every House Available In Tainted Grail: The Fall Of Avalon
- Tainted Grail The Fall of Avalon: See No Evil Quest Guide
2025-05-13 11:01