English
27695
|
In the current market environment, players' attention is almost all focused on Bitcoin, which is reasonable: the direction of the market is unstable, and other assets cannot be immune. However, when recently collating data on the ETH and SOL chains, a signal emerged that deserves re-examination - SOL's valuation may be entering a structural opportunity range. 01｜The cost of key chips has been penetrated, and a rare signal appears  (Picture 1) On-chain data shows that SOL medium-sized whales, which have been the most active in the past two years and have positions ranging from 10 to 1,000 pieces, are the first major forces to complete the opening of positions in this round of market conditions. The current average cost for this group is about $167. At the same time, the average exchange price of chips across the entire network is approximately $158. Yesterday's pullback sent prices directly below these two key averages. In the past two years, similar situations have not occurred many times in SOL, which has certain indicator significance. 02｜The high-level chips are trapped, and the bottom cost is close to  (Picture 2) Further observation from the chip structure shows that a large number of hold-up areas have accumulated above the current price, and institutional and treasury funds have entered the market around $185. More importantly, the current price is quite close to the initial position range of $144 for the main funds in this round. In other words, the first batch of bottom positions of the main force are approaching the no-loss price. 03｜The proportion of profitable supply drops sharply, and market sentiment accelerates to cool down  (Picture 3) Judging from the SOL Profitable Supply Proportion (PSIP) data, only about 35% were in profit yesterday, which means 65% of the chips were in loss. In the past few years, PSIP has only been below 20% during deep bear phases, and it has only been below 35% twice so far this cycle: April 7 and June 22. This means that the current sentiment, valuation and chip structure of SOL have entered the obvious "oversold zone". 04｜Conclusion: It’s not a bargain hunting signal, but its value is outstanding This does not mean that SOL prices have bottomed out, but it does mean that the risk-reward ratio is beginning to tilt toward the bulls. As long as Bitcoin does not experience systemic risks and the market does not officially enter a bear market cycle, then from a long-term perspective, SOL is likely to become one of the most potential mainstream assets besides BTC.
https://link3.cc/kuangren888 "The Madman" is a must-have tool for the currency circle. Please copy the above link and paste it into your phone's built-in browser to access it. Family members must follow the public account below to prevent losing contact.  『Disclaimer: The information and data in this content are derived from publicly available information, and we strive to be accurate and reliable. However, we do not guarantee the accuracy and completeness of the information. This content does not constitute investment advice. If you invest based on this, you are responsible for your own responsibility. 』 It’s not easy to keep creating. Welcome to like, forward and watch. |
|
|
|
|
|
