<p>一位長期持有 Solana 的質押者在持有近兩年後，開始逐步退出，已解除質押超過 98,000 SOL。</p>
<p>該錢包最初在週期高點附近從 Binance 提取了這些代幣，然後將其用於質押。</p>
<p>然而，目前的退出發生在顯著較低的價格水平，鎖定了超過 660 萬美元的實現損失。持有者採用了定投策略，而不是一次性拋售，從而將供應分散在時間上。</p>
<p>因此，市場避免了突然的清算驅動反應。不過，這種穩定的分配帶來了持續的上行壓力。</p>
<p>與此同時，買家繼續在支撐位附近介入，形成了長期供應與短期需求之間的明確測試。</p>
<h2><strong>Solana 價格在熟悉的區間內壓縮</strong></h2>
<p>截至發稿時，Solana [SOL] 價格繼續在一個明確的區間內交易，買家反覆捍衞 120 美元至 125 美元的需求區間。每次跌入該區域都會引發快速反應，防止下行持續。</p>
<p>然而，向上嘗試在 146 美元至 150 美元附近始終失敗，這與整合箱的上邊界一致。</p>
<p>每次向該水平的反彈都失去動能，迫使價格回到區間中點。135 美元區域在最近的交易中充當了短期支點，在支撐和阻力之間反覆轉換。</p>
<p>因此，波動性保持壓制。因此，Solana 被困在 120 美元和 150 美元之間，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>來源：TradingView</p>
<p>隨着日線 RSI 從接近 70 的近期高點回落並逐漸下滑至低 40s，動能繼續減弱。</p>
<p>截至發稿時，RSI 約為 43.8，確認了上行壓力減弱，但並未發出超賣信號。這個位置很重要，因為 RSI 仍遠高於 30 的閾值，顯示賣方缺乏主導地位。</p>
<p>然而，RSI 也難以重新奪回 50 的中線，這在整合階段限制了看漲動能。隨着 RSI 趨於平穩，它反映出價格壓縮而非趨勢加速。</p>
<p>因此，動能指向疲軟，而非崩潰，同時買家在動能進一步惡化之前繼續介入。</p>
<h2><strong>買方需求吸收賣壓</strong></h2>
<p>在 90 天的窗口內，現貨買方 CVD 仍然以買方為主，儘管大型持有者的賣方分配明顯。</p>
<p>儘管長期退出正在進行，激進的市場買家仍在不斷抬高報價。</p>
<p>然而，價格並未進一步上漲，這表明吸收而非追逐行為。這種動態顯示買家在不強迫突破的情況下滿足供應。</p>
<p>與此同時，持續的買方主導地位降低了急劇下行持續的可能性。不過，僅靠吸收並不能保證上行擴張。</p>
<p>相反，它在清除過剩供應的同時穩定了價格。因此，訂單流條件支持區間穩定，而非立即的方向性解決。</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>來源：CryptoQuant</p>
<h2><strong>Solana 頂級交易者保持積極做多</strong></h2>
<p>儘管 Solana 未能形成趨勢，Binance 頂級交易者的持倉仍然嚴重傾斜於多頭。</p>
<p>截至發稿時，80.86% 的頂級交易者賬户持有多頭頭寸，而 19.14% 仍為空頭。</p>
<p>這種不平衡使得多空比率達到 4.22，確認多頭敞口超過空頭四倍以上。然而，價格仍在整合，而非突破上漲。</p>
<p>該比率從近期超過 4.4 的高點略微回落，表明温和的調整而非激進的去風險。因此，交易者的信心依然強勁，但價格結構尚未確認。</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>來源：CoinGlass</p>
<p>總而言之，Solana 目前反映出市場在吸收長期分配的同時未失去結構支撐。</p>
<p>買家捍衞關鍵水平，RSI 避免崩潰，買方需求保持活躍，頂級交易者仍然積極做多。然而，價格仍然缺乏擴張。</p>
<p>在 Solana 明確突破整合區間之前，市場在信心與確認之間保持平衡。</p>
<hr/>
<h2><strong>最後的思考</strong></h2>
<ul>
<li><em>長期賣壓持續存在；然而，市場結構保持完整，買家繼續吸收供應。</em></li>
<li><em>交易者信心依然高漲，但價格仍需擴張以驗證看漲預期。</em></li>
</ul>
<hr/>

QSOL

SOLZ

GSOL

VSOL

區塊鏈 ETF - Amplify

BSOL

<p>Solana 經歷了長期持有者的退出，出售了超過 98,000 個 SOL，導致實現損失達 660 萬美元。價格仍然被困在 120 美元和 150 美元之間，買家在下方區間進行防守，但未能突破 146 美元至 150 美元的上方。相對強弱指數（RSI）顯示動能減弱，但買家仍在吸收賣壓，維持了買方主導的市場。儘管 80.86% 的頂級交易者持有多頭頭寸，但仍需價格擴張以確認看漲預期。總體而言，市場處於平衡狀態，持續的賣壓與結構性支撐依然存在</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>一位長期持有 Solana 的質押者在持有近兩年後，開始逐步退出，已解除質押超過 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>該錢包最初在週期高點附近從 Binance 提取了這些代幣，然後將其用於質押。</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，目前的退出發生在顯著較低的價格水平，鎖定了超過 660 萬美元的實現損失。持有者採用了定投策略，而不是一次性拋售，從而將供應分散在時間上。</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，市場避免了突然的清算驅動反應。不過，這種穩定的分配帶來了持續的上行壓力。</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>與此同時，買家繼續在支撐位附近介入，形成了長期供應與短期需求之間的明確測試。</p>
</div><h2><strong>Solana price compresses inside a familiar range</strong></h2>
<div class="lb-trans"><h2><strong>Solana 價格在熟悉的區間內壓縮</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>截至發稿時，Solana [SOL] 價格繼續在一個明確的區間內交易，買家反覆捍衞 120 美元至 125 美元的需求區間。每次跌入該區域都會引發快速反應，防止下行持續。</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，向上嘗試在 146 美元至 150 美元附近始終失敗，這與整合箱的上邊界一致。</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>每次向該水平的反彈都失去動能，迫使價格回到區間中點。135 美元區域在最近的交易中充當了短期支點，在支撐和阻力之間反覆轉換。</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，波動性保持壓制。因此，Solana 被困在 120 美元和 150 美元之間，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>來源：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>隨着日線 RSI 從接近 70 的近期高點回落並逐漸下滑至低 40s，動能繼續減弱。</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>截至發稿時，RSI 約為 43.8，確認了上行壓力減弱，但並未發出超賣信號。這個位置很重要，因為 RSI 仍遠高於 30 的閾值，顯示賣方缺乏主導地位。</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 也難以重新奪回 50 的中線，這在整合階段限制了看漲動能。隨着 RSI 趨於平穩，它反映出價格壓縮而非趨勢加速。</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，動能指向疲軟，而非崩潰，同時買家在動能進一步惡化之前繼續介入。</p>
</div><h2><strong>Taker demand absorbs sell pressure</strong></h2>
<div class="lb-trans"><h2><strong>買方需求吸收賣壓</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 天的窗口內，現貨買方 CVD 仍然以買方為主，儘管大型持有者的賣方分配明顯。</p>
</div><p>Aggressive market buyers continue lifting offers even as long-term exits unfold.</p>
<div class="lb-trans"><p>儘管長期退出正在進行，激進的市場買家仍在不斷抬高報價。</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，價格並未進一步上漲，這表明吸收而非追逐行為。這種動態顯示買家在不強迫突破的情況下滿足供應。</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>與此同時，持續的買方主導地位降低了急劇下行持續的可能性。不過，僅靠吸收並不能保證上行擴張。</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，它在清除過剩供應的同時穩定了價格。因此，訂單流條件支持區間穩定，而非立即的方向性解決。</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>來源：CryptoQuant</p>
</div><h2><strong>Solana top traders stay aggressively long</strong></h2>
<div class="lb-trans"><h2><strong>Solana 頂級交易者保持積極做多</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>儘管 Solana 未能形成趨勢，Binance 頂級交易者的持倉仍然嚴重傾斜於多頭。</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>截至發稿時，80.86% 的頂級交易者賬户持有多頭頭寸，而 19.14% 仍為空頭。</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>這種不平衡使得多空比率達到 4.22，確認多頭敞口超過空頭四倍以上。然而，價格仍在整合，而非突破上漲。</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>該比率從近期超過 4.4 的高點略微回落，表明温和的調整而非激進的去風險。因此，交易者的信心依然強勁，但價格結構尚未確認。</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>來源：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>總而言之，Solana 目前反映出市場在吸收長期分配的同時未失去結構支撐。</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>買家捍衞關鍵水平，RSI 避免崩潰，買方需求保持活躍，頂級交易者仍然積極做多。然而，價格仍然缺乏擴張。</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 明確突破整合區間之前，市場在信心與確認之間保持平衡。</p>
</div><hr/>
<div class="lb-trans"><hr/>
</div><h2><strong>Final Thoughts</strong></h2>
<div class="lb-trans"><h2><strong>最後的思考</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>長期賣壓持續存在；然而，市場結構保持完整，買家繼續吸收供應。</em></li>
<li><em>交易者信心依然高漲，但價格仍需擴張以驗證看漲預期。</em></li>
</ul>
</div><hr/>
<div class="lb-trans"><hr/>
</div>

Solana 吸收了 98K SOL 的拋售——為什麼價格仍然拒絕突破