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Trading King

06/29 16:41

Whales pull the plug again

Whales pull the plug again

After a brief return to accumulation on the 22nd of June, Solana’s LTHs have resumed heavy distribution.

glassnode-studio_sol-hodler-net-position-change-768x432.png

Before this, minor inflows of around 170 million SOL were recorded on the 22nd of June, offering brief hope that accumulation might return.

However, the tides turned yet again.

The return to negative flows reflected renewed distribution pressure as the price hovered near resistance.

The black line on the same chart indicated price held around $140–$150 while these moves occurred, highlighting how selling capped bullish breakouts.

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