Solana on-chain activity indicates significant supply shift as SOL approaches critical support

SOL’s price holds above 120 USD, reflecting a supply shortage. Despite 2.12 billion USD inflows and 1.11 billion USD outflows indicating bullish trends, futures trading volume has dropped by 3%.

Recent buyers around 135 USD and 142 USD may provide support, while unrealized profit metrics reset to prior lows signal potential reaccumulation. However, the market requires increased active demand to convert supply strength into gains.

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