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GateNews

2026-02-03 07:32:42

Behind Solana's rebound, undercurrents are surging: big funds are returning, and $120 has become the critical threshold between bulls and bears

On February 3rd, news broke that Solana experienced a technical correction after a sharp sell-off. Over the past seven days, SOL has declined approximately 15.5%, and during the market turbulence from late January to early February, it briefly touched a low of $95.87. The price then found support and rebounded nearly 8%, currently climbing back to around $103, indicating that short-term selling pressure is easing.

On-chain and capital flow indicators are sending key signals. After completing the downward target of a daily head and shoulders pattern, the Chaikin Money Flow indicator has moved in the opposite direction, forming a classic bullish divergence. This suggests that large-scale capital has started to position around the $95–96 range. The indicator is approaching the zero line, and once it turns positive, it will mean that buying momentum is beginning to dominate the short-term trend.

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