<p>一位长期持有 Solana 的质押者在持有近两年后，开始逐步退出，已解除质押超过 98,000 SOL。</p>
<p>该钱包最初在周期高点附近从 Binance 提取了这些代币，然后将其用于质押。</p>
<p>然而，目前的退出发生在显著较低的价格水平，锁定了超过 660 万美元的实现损失。持有者采用了定投策略，而不是一次性抛售，从而将供应分散在时间上。</p>
<p>因此，市场避免了突然的清算驱动反应。不过，这种稳定的分配带来了持续的上行压力。</p>
<p>与此同时，买家继续在支撑位附近介入，形成了长期供应与短期需求之间的明确测试。</p>
<h2><strong>Solana 价格在熟悉的区间内压缩</strong></h2>
<p>截至发稿时，Solana [SOL] 价格继续在一个明确的区间内交易，买家反复捍卫 120 美元至 125 美元的需求区间。每次跌入该区域都会引发快速反应，防止下行持续。</p>
<p>然而，向上尝试在 146 美元至 150 美元附近始终失败，这与整合箱的上边界一致。</p>
<p>每次向该水平的反弹都失去动能，迫使价格回到区间中点。135 美元区域在最近的交易中充当了短期支点，在支撑和阻力之间反复转换。</p>
<p>因此，波动性保持压制。因此，Solana 被困在 120 美元和 150 美元之间，反映出平衡而非方向控制。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/SOLUSDT_2026-01-22_10-34-20.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="2114" height="1033" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/SOLUSDT_2026-01-22_10-34-20.png"/></p>
<p>来源：TradingView</p>
<p>随着日线 RSI 从接近 70 的近期高点回落并逐渐下滑至低 40s，动能继续减弱。</p>
<p>截至发稿时，RSI 约为 43.8，确认了上行压力减弱，但并未发出超卖信号。这个位置很重要，因为 RSI 仍远高于 30 的阈值，显示卖方缺乏主导地位。</p>
<p>然而，RSI 也难以重新夺回 50 的中线，这在整合阶段限制了看涨动能。随着 RSI 趋于平稳，它反映出价格压缩而非趋势加速。</p>
<p>因此，动能指向疲软，而非崩溃，同时买家在动能进一步恶化之前继续介入。</p>
<h2><strong>买方需求吸收卖压</strong></h2>
<p>在 90 天的窗口内，现货买方 CVD 仍然以买方为主，尽管大型持有者的卖方分配明显。</p>
<p>尽管长期退出正在进行，激进的市场买家仍在不断抬高报价。</p>
<p>然而，价格并未进一步上涨，这表明吸收而非追逐行为。这种动态显示买家在不强迫突破的情况下满足供应。</p>
<p>与此同时，持续的买方主导地位降低了急剧下行持续的可能性。不过，仅靠吸收并不能保证上行扩张。</p>
<p>相反，它在清除过剩供应的同时稳定了价格。因此，订单流条件支持区间稳定，而非立即的方向性解决。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/Solana-Spot-Taker-CVDCumulative-Volume-Delta-90-day-6-scaled.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="2560" height="1440" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/Solana-Spot-Taker-CVDCumulative-Volume-Delta-90-day-6-scaled.png"/></p>
<p>来源：CryptoQuant</p>
<h2><strong>Solana 顶级交易者保持积极做多</strong></h2>
<p>尽管 Solana 未能形成趋势，Binance 顶级交易者的持仓仍然严重倾斜于多头。</p>
<p>截至发稿时，80.86% 的顶级交易者账户持有多头头寸，而 19.14% 仍为空头。</p>
<p>这种不平衡使得多空比率达到 4.22，确认多头敞口超过空头四倍以上。然而，价格仍在整合，而非突破上涨。</p>
<p>该比率从近期超过 4.4 的高点略微回落，表明温和的调整而非激进的去风险。因此，交易者的信心依然强劲，但价格结构尚未确认。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/Screenshot-2026-01-22-103714.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="2091" height="499" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/Screenshot-2026-01-22-103714.png"/></p>
<p>来源：CoinGlass</p>
<p>总而言之，Solana 目前反映出市场在吸收长期分配的同时未失去结构支撑。</p>
<p>买家捍卫关键水平，RSI 避免崩溃，买方需求保持活跃，顶级交易者仍然积极做多。然而，价格仍然缺乏扩张。</p>
<p>在 Solana 明确突破整合区间之前，市场在信心与确认之间保持平衡。</p>
<hr/>
<h2><strong>最后的思考</strong></h2>
<ul>
<li><em>长期卖压持续存在；然而，市场结构保持完整，买家继续吸收供应。</em></li>
<li><em>交易者信心依然高涨，但价格仍需扩张以验证看涨预期。</em></li>
</ul>
<hr/>

QSOL

SOLZ

GSOL

VSOL

区块链 ETF - Amplify

BSOL

<p>Solana 经历了长期持有者的退出，出售了超过 98,000 个 SOL，导致实现损失达 660 万美元。价格仍然被困在 120 美元和 150 美元之间，买家在下方区间进行防守，但未能突破 146 美元至 150 美元的上方。相对强弱指数（RSI）显示动能减弱，但买家仍在吸收卖压，维持了买方主导的市场。尽管 80.86% 的顶级交易者持有多头头寸，但仍需价格扩张以确认看涨预期。总体而言，市场处于平衡状态，持续的卖压与结构性支撑依然存在</p>

<p>A long-term Solana staker has begun a gradual exit after unstaking more than 98,000 SOL following nearly two years of holding.</p>
<div class="lb-trans"><p>一位长期持有 Solana 的质押者在持有近两年后，开始逐步退出，已解除质押超过 98,000 SOL。</p>
</div><p>The wallet originally withdrew the tokens from Binance near cycle highs before committing them to staking.</p>
<div class="lb-trans"><p>该钱包最初在周期高点附近从 Binance 提取了这些代币，然后将其用于质押。</p>
</div><p>However, the current exit unfolds at significantly lower prices, locking in a realized loss exceeding $6.6 million. The holder uses a DCA approach rather than a single sell-off, which spreads supply across time.</p>
<div class="lb-trans"><p>然而，目前的退出发生在显著较低的价格水平，锁定了超过 660 万美元的实现损失。持有者采用了定投策略，而不是一次性抛售，从而将供应分散在时间上。</p>
</div><p>As a result, the market avoids abrupt liquidation-driven reactions. Still, this steady distribution introduces persistent overhead pressure.</p>
<div class="lb-trans"><p>因此，市场避免了突然的清算驱动反应。不过，这种稳定的分配带来了持续的上行压力。</p>
</div><p>Meanwhile, buyers continue stepping in near support, setting up a clear test between long-term supply and short-term demand.</p>
<div class="lb-trans"><p>与此同时，买家继续在支撑位附近介入，形成了长期供应与短期需求之间的明确测试。</p>
</div><h2><strong>Solana price compresses inside a familiar range</strong></h2>
<div class="lb-trans"><h2><strong>Solana 价格在熟悉的区间内压缩</strong></h2>
</div><p>Solana [SOL] price continued to trade inside a clearly defined range at press time, with buyers repeatedly defending the $120–$125 demand zone. Each dip into this area triggered quick reactions, preventing downside continuation.</p>
<div class="lb-trans"><p>截至发稿时，Solana [SOL] 价格继续在一个明确的区间内交易，买家反复捍卫 120 美元至 125 美元的需求区间。每次跌入该区域都会引发快速反应，防止下行持续。</p>
</div><p>However, upside attempts consistently failed near $146–$150, which aligned with the upper boundary of the consolidation box.</p>
<div class="lb-trans"><p>然而，向上尝试在 146 美元至 150 美元附近始终失败，这与整合箱的上边界一致。</p>
</div><p>Every rally toward that level loses momentum, forcing price back toward the range midpoint. The $135 area acted as a short-term pivot, flipping between support and resistance during recent sessions.</p>
<div class="lb-trans"><p>每次向该水平的反弹都失去动能，迫使价格回到区间中点。135 美元区域在最近的交易中充当了短期支点，在支撑和阻力之间反复转换。</p>
</div><p>As a result, volatility remained suppressed. Therefore, Solana stayed trapped between $120 and $150, reflecting balance rather than directional control.</p>
<div class="lb-trans"><p>因此，波动性保持压制。因此，Solana 被困在 120 美元和 150 美元之间，反映出平衡而非方向控制。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/SOLUSDT_2026-01-22_10-34-20.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2026/01/SOLUSDT_2026-01-22_10-34-20.png"/></p>
<p>Source: TradingView</p>
<div class="lb-trans"><p>来源：TradingView</p>
</div><p>Momentum continued to soften as the daily RSI rolled over from recent highs near 70 and drifted lower toward the low-40s.</p>
<div class="lb-trans"><p>随着日线 RSI 从接近 70 的近期高点回落并逐渐下滑至低 40s，动能继续减弱。</p>
</div><p>At the press time, RSI sat around 43.8, confirming weakening upside pressure without signaling oversold conditions. This positioning matters because RSI remains well above the 30 threshold, showing sellers lack dominance.</p>
<div class="lb-trans"><p>截至发稿时，RSI 约为 43.8，确认了上行压力减弱，但并未发出超卖信号。这个位置很重要，因为 RSI 仍远高于 30 的阈值，显示卖方缺乏主导地位。</p>
</div><p>However, RSI also struggled to reclaim the 50 midline, which caps bullish momentum during consolidation phases. As RSI flattens, it mirrors price compression rather than trend acceleration.</p>
<div class="lb-trans"><p>然而，RSI 也难以重新夺回 50 的中线，这在整合阶段限制了看涨动能。随着 RSI 趋于平稳，它反映出价格压缩而非趋势加速。</p>
</div><p>Therefore, momentum points to exhaustion, not breakdown, while buyers continue stepping in before momentum deteriorates further.</p>
<div class="lb-trans"><p>因此，动能指向疲软，而非崩溃，同时买家在动能进一步恶化之前继续介入。</p>
</div><h2><strong>Taker demand absorbs sell pressure</strong></h2>
<div class="lb-trans"><h2><strong>买方需求吸收卖压</strong></h2>
</div><p>Spot Taker CVD over the 90-day window remained buyer-dominant despite visible sell-side distribution from large holders.</p>
<div class="lb-trans"><p>在 90 天的窗口内，现货买方 CVD 仍然以买方为主，尽管大型持有者的卖方分配明显。</p>
</div><p>Aggressive market buyers continue lifting offers even as long-term exits unfold.</p>
<div class="lb-trans"><p>尽管长期退出正在进行，激进的市场买家仍在不断抬高报价。</p>
</div><p>However, price does not expand higher, which signals absorption rather than chase behavior. This dynamic shows buyers meeting supply without forcing breakouts.</p>
<div class="lb-trans"><p>然而，价格并未进一步上涨，这表明吸收而非追逐行为。这种动态显示买家在不强迫突破的情况下满足供应。</p>
</div><p>Meanwhile, sustained buyer dominance reduces the likelihood of sharp downside continuation. Still, absorption alone does not guarantee upside expansion.</p>
<div class="lb-trans"><p>与此同时，持续的买方主导地位降低了急剧下行持续的可能性。不过，仅靠吸收并不能保证上行扩张。</p>
</div><p>Instead, it stabilizes price while excess supply clears. Therefore, order-flow conditions support range stability rather than immediate directional resolution.</p>
<div class="lb-trans"><p>相反，它在清除过剩供应的同时稳定了价格。因此，订单流条件支持区间稳定，而非立即的方向性解决。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/Solana-Spot-Taker-CVDCumulative-Volume-Delta-90-day-6-scaled.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2026/01/Solana-Spot-Taker-CVDCumulative-Volume-Delta-90-day-6-scaled.png"/></p>
<p>Source: CryptoQuant</p>
<div class="lb-trans"><p>来源：CryptoQuant</p>
</div><h2><strong>Solana top traders stay aggressively long</strong></h2>
<div class="lb-trans"><h2><strong>Solana 顶级交易者保持积极做多</strong></h2>
</div><p>Binance top trader positioning remains heavily skewed toward longs despite Solana’s failure to trend.</p>
<div class="lb-trans"><p>尽管 Solana 未能形成趋势，Binance 顶级交易者的持仓仍然严重倾斜于多头。</p>
</div><p>As of press time, 80.86% of top trader accounts held long positions, while 19.14% remain short.</p>
<div class="lb-trans"><p>截至发稿时，80.86% 的顶级交易者账户持有多头头寸，而 19.14% 仍为空头。</p>
</div><p>This imbalance placed the Long/Short Ratio at 4.22, confirming that long exposure outweighs shorts by more than four times. However, the price continues consolidating rather than breaking higher.</p>
<div class="lb-trans"><p>这种不平衡使得多空比率达到 4.22，确认多头敞口超过空头四倍以上。然而，价格仍在整合，而非突破上涨。</p>
</div><p>The ratio has eased slightly from recent peaks above 4.4, suggesting mild moderation rather than aggressive de-risking. Therefore, trader conviction remains strong, but price structure has yet to confirm it.</p>
<div class="lb-trans"><p>该比率从近期超过 4.4 的高点略微回落，表明温和的调整而非激进的去风险。因此，交易者的信心依然强劲，但价格结构尚未确认。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/Screenshot-2026-01-22-103714.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2026/01/Screenshot-2026-01-22-103714.png"/></p>
<p>Source: CoinGlass</p>
<div class="lb-trans"><p>来源：CoinGlass</p>
</div><p>To sum up, Solana currently reflects a market absorbing long-term distribution without losing structural support.</p>
<div class="lb-trans"><p>总而言之，Solana 目前反映出市场在吸收长期分配的同时未失去结构支撑。</p>
</div><p>Buyers defend key levels, RSI avoids breakdown, taker demand stays active, and top traders remain heavily long. However, the price still lacks expansion.</p>
<div class="lb-trans"><p>买家捍卫关键水平，RSI 避免崩溃，买方需求保持活跃，顶级交易者仍然积极做多。然而，价格仍然缺乏扩张。</p>
</div><p>Until Solana breaks decisively beyond the consolidation range, the market remains balanced between conviction and confirmation.</p>
<div class="lb-trans"><p>在 Solana 明确突破整合区间之前，市场在信心与确认之间保持平衡。</p>
</div><hr/>
<div class="lb-trans"><hr/>
</div><h2><strong>Final Thoughts</strong></h2>
<div class="lb-trans"><h2><strong>最后的思考</strong></h2>
</div><ul>
<li><em>Long-term selling pressure persists; however, market structure remains intact as buyers continue absorbing supply.</em></li>
<li><em>Trader confidence stays elevated, however price still needs expansion to validate bullish expectations.</em></li>
</ul>
<div class="lb-trans"><ul>
<li><em>长期卖压持续存在；然而，市场结构保持完整，买家继续吸收供应。</em></li>
<li><em>交易者信心依然高涨，但价格仍需扩张以验证看涨预期。</em></li>
</ul>
</div><hr/>
<div class="lb-trans"><hr/>
</div>

Solana 吸收了 98K SOL 的抛售——为什么价格仍然拒绝突破