#大户持仓变化 $SOL Technical downside pressure | Yen policy shift impacts risk assets, multiple factors add to downward pressure

Recently, SOL's performance has indeed been disappointing, with several factors simultaneously exerting pressure, causing this cryptocurrency to fall into a predicament.

**Where does the pressure come from?**

The yen rate hike has been implemented. The global liquidity environment is tightening, and risk assets are generally under pressure, with SOL, as a high-beta asset, bearing the brunt. Additionally, on-chain data shows that large holders are continuously reducing their positions, and market bullishness is clearly waning.

**What does the technical analysis say?**

The 130 level has become a strong resistance, with rebounds being suppressed. The current trend appears to be forming a right shoulder of a head and shoulders pattern, a typical mid-term downtrend continuation pattern.

**Key levels are:**
- 127.00: A break below this could accelerate the decline
- 124.76: Previous support zone, once lost, there’s no more buffer
- 120.00: Deep correction level

Rather than guessing a rebound, it’s better to acknowledge the current situation—wait until the policy environment improves. Trading is about logic, not gambling on probabilities.