Velin

Web3 degen & NFT strategist | Curating alpha, culture & chaos since 2019 ✦ Keeping chads safe from rugs
@GFAL_Official @okx

[Velin @Velin_Sol]

⚠️ $SOL Warning!!

1. Technical Analysis

As you can see on the chart, $SOL is forming a Head and Shoulders pattern on both the weekly and monthly timeframes a classically bearish structure

The RSI, combined with EMA and WMA, is showing a triple-top divergence, signaling the potential start of a long-term bearish phase

The two EMAs on the weekly chart have started to cross sideways, another warning sign of momentum exhaustion

2. Capital Flow & Potential

On the fundamental side, a large number of projects are now building on or integrating with Solana, strengthening its ecosystem projects like: $PUMP, $MET, $BONK, $JUP, $JTO, and others have created a massive liquidity pool that reinforces Solana’s network effect

TVL (Total Value Locked), according to DefiLlama, has been steadily increasing since early 2024, reflecting growing DeFi activity on Solana

The recently launched Solana ETF has also shown positive net inflows, indicating traditional investors’ growing interest and confidence in the project’s long-term potential

However, on-chain data paints a less optimistic short-term picture net flow over the past month has been negative, suggesting more selling pressure on spot markets

3. Conclusion

Fundamentally and from a capital-flow perspective, $SOL looks strong and full of potential, but the spot netflow remains heavily negative

Technically, it’s very weak indicators and chart structure are signaling a possible deeper correction

The current price support seems to be holding mainly because the overall market cycle is still in a bullish phase

Personally, I’m still bullish on $SOL and the broader market, but since I rely 70% on technical analysis, I have to respect the bearish signals that are appearing

I honestly hope my analysis is wrong, because $SOL’s fundamentals are exceptional, but if the chart does retrace back to its base level, it would be a painful reset that could take a long time to rebuild

[Velin @Velin_Sol]

@Olen730 ok sir

[Velin @Velin_Sol]

@Olen730 Does Dexmarket have a test panel yet, Olen? Can I join?

[Velin @Velin_Sol]

@Olen730 I’ve been looking into Dexmarket too, and the OG feature actually feels pretty fitting right now, especially with how many scam memes are popping up these days

[Velin @Velin_Sol]

@Olen730 that's right, and account deleted

[Velin @Velin_Sol]

@kinikaszn 🥲🥲

[Velin @Velin_Sol]

just cry

[Velin @Velin_Sol]

@apcrypto12 gm bro

[Velin @Velin_Sol]

GM Degens

[Velin @Velin_Sol]

@mikeyleo_02 gm bro

[Velin @Velin_Sol]

@perritaslocas gm bro

[Velin @Velin_Sol]

@BeboKerri41112 gm bro

[Velin @Velin_Sol]

@SomTeezy_ gm bro

[Velin @Velin_Sol]

@LaehnB45308 gm bro

[Velin @Velin_Sol]

@helen_cris gm bro

[Velin @Velin_Sol]

@kaidankolo gm bro

[Velin @Velin_Sol]

@naiivememe As long as you've got something to cover up and a mattress to lie on, you're good, crypto traders are simple like that. But the PC and tools need to be top-notch if you want to analyze properly

[Velin @Velin_Sol]

@AfulArman yes sir

[Velin @Velin_Sol]

The true story behind $PENG the little bird shaking up BNB Chain 🕵️‍♂️

$PENG was once hyped as “the next $DOGE” the first meme coin to integrate the x402 payment standard on BNB Chain, promising “gasless minting” and a presale of only $1 USD. Sounds exciting, right?

[Velin @Velin_Sol]

@MerlijnTrader hmmm let's see bro

[Velin @Velin_Sol]

@CryptoTony__ noted

[Velin @Velin_Sol]

@JamesWynnReal oh no Wynn !! i'm still bullish bro