Solana hits a two year low… 80% of investors face losses as an 'unprecedented signal' emerges
Solana hits a two year low… 80% of investors face losses as an 'unprecedented signal' emerges
Solana (SOL) has fallen to around $86, near its lowest level in approximately two years, sending a strong undervaluation signal that historically indicates the formation of a market bottom.
According to cryptocurrency media outlet Cointelegraph on February 10 (local time), Solana’s Market Value to Realized Value (MVRV) ratio has dropped to its lowest level in about two years and six months, suggesting that the asset is extremely undervalued. Solana’s current market capitalization is significantly below the aggregate acquisition cost of tokens across the network, indicating widespread unrealized losses among investors.
On-chain data show that only 21.9% of Solana-holding addresses are currently in profit, while the remaining 78.1% are sitting in loss territory. Historical analysis reveals that when the share of profitable addresses falls to around 20%, markets have often been near a true bottom. This reflects a typical capitulation phase in which selling pressure from falling prices peaks, followed by buying from value investors that lays the groundwork for a rebound.
Solana is currently testing support near $86, the 23.6% Fibonacci retracement level, as it attempts to defend against further downside. Although the Chaikin Money Flow, a capital flow indicator, remains in negative territory, its gradual upward trend suggests that the pace of capital outflows is slowing. Analysts interpret this as a positive sign that selling pressure is easing and the market’s supply-demand balance is gradually entering a recovery phase.
The first key hurdle for a price recovery is a breakout above the $90 level. Analysts predict that if Solana surpasses $90, it could initiate a full-fledged rally toward reclaiming $100. In particular, successfully retaking the $105 level—the 61.8% Fibonacci retracement—and turning it into support would greatly increase the likelihood of a confirmed long-term trend reversal.
However, downside risks remain if additional capital inflows fail to materialize. If the $81 support level breaks, prices could slide further to $75 or even $70, intensifying the decline. The market is closely watching whether Solana can emerge from this period of historical undervaluation and trigger a rebound, keeping a vigilant eye on the timing of any breakout above key resistance levels.
*Disclaimer: This article is provided for informational purposes only and does not constitute investment advice. The publisher assumes no responsibility for investment losses incurred based on this content.*
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