Last week I said SOL is very likely to go further down, not many people believe in it.

Now the price is around 70, still no bottom seen.

Previously, I judged that 65-70 has support, and it indeed held up, with the lowest nearly breaking 66.
But the problem is the rebound has no volume—trading volume is bleak, willingness to buy the dip is low, making this support very fragile.

Three signals worth noting: First, momentum continues to weaken, down 5.9% in 24 hours, 12.7% in 7 days, 17% in a month;
Second, the sentiment index is at 12, in extreme panic, even lower than last week, which is one of the necessary conditions for a bottom;
Third, it has fallen 76% from the high point, although the valuation is low, it doesn’t mean it will rise immediately, but the downside is limited.

Additionally, trading volume has unusually increased, exceeding 5% of the market cap.
Big funds are moving, either dumping or accumulating, I lean more towards the latter.

Next week, watch two levels: whether 65 can hold, and whether 77 can break through.
Holding 65 might allow sentiment to recover; breaking 77 would be a sign of trend reversal.
Don’t rush to buy the dip now, but $BTC you can start paying attention.