Solana Pins $75 Support as Short-Term Buyers Absorb Supply

Solana has entered a corrective phase after failing to hold its recent rebound. The token peaked near $88 on February 8 before slipping into a steady pullback, and the price has dropped nearly 10% since then, with selling pressure increasing over the past 24 hours.

The 12-hour chart showed a hidden bearish divergence when price made a lower high near $88 while the RSI made a higher high, signaling weakening momentum. Exchange flows flipped from −538,000 to +245,000 over 30 days, a switch from net outflows to net inflows that coincided with more sell-side activity and helped accelerate the decline.

Short-term holders have been absorbing much of the supply. The one-day-to-one-week cohort rose from about 5.39% to 6.81%, a sharp increase in speculative participation. Net unrealized profit/loss for these short-term buyers moved from roughly −0.95 to −0.69 during the rebound before slipping back to around −0.76, leaving many recent buyers underwater and potentially hesitant to sell.

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