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Analysis: There are few overhanging sell orders above SOL's current price, indicating that whales are not in a hurry to exit for profit.
BlockBeats News, September 12th. On-chain data analyst Murphy stated in a post that SOL's on-chain data shows that there are few overhanging chips from the previous peak, with the cost basis of the main players who entered during the last pullback roughly between $144 and $165. Currently, there is approximately 40%-50% of unrealized profits. Given the significant buying activity of the main funds, the current price has not yet reached their expected target. During the recent price rebound of SOL, the scale of profit-taking by SOL whales was relatively small, much smaller than during previous peak periods. If the profitable chips below do not rush to cash out, SOL will face relatively little resistance in its upward movement. This analysis is for educational purposes only and should not be considered as investment advice.
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