Overview
- SOL has dropped more than 30% this week, touching lows near $67–69 before bouncing to around $79, with the weekly chart still under pressure.
- Derivatives metrics deteriorated, with open interest near $5 billion, funding turning negative, and the long‑to‑short ratio below one.
- Fund‑flow data conflicted, with SoSoValue citing $2.82 million of spot‑ETF inflows on Feb. 5 while Lookonchain reported weekly outflows of 67,632 SOL (about $5.7 million).
- Technicians flagged a near‑term demand area around $90–95, noted interim levels at $82 and $76, and outlined a deeper risk zone near $49–53 if supports keep failing.
- On‑chain engagement remained firm, including more than $31 billion in weekly DEX spot volume and a Solana RWA market cap topping $1 billion, alongside new tokenization and treasury initiatives.