Solana’s recent price action is quite interesting. The price has been hovering around $140 for several rounds, and every attempt to break higher has been pushed back. On the technical chart, the 20-day moving average at $138 has now become a clear ceiling.

What’s even more interesting is the on-chain data. Recently, you can observe that large addresses are frequently transferring SOL to exchanges, and the amounts are significant—at least several hundred thousand tokens. Everyone knows what this usually means.

Speaking of predictions, over the past two months, there have been endless voices saying “SOL is about to take off.” The result? Its market cap dropped by 40%. Now, there are even tools built to track the accuracy of these predictions, and the data is quite embarrassing. The divergence between market sentiment and actual price action is worth pondering.

From a trading perspective, the $140 level is indeed crucial. If it holds, looking up to $150 is reasonable; if it gets rejected again, the $128 support might not hold. Right now, technicals, capital flows, and market sentiment are all at play, and it’s hard to say which will prevail in the end.

At times like this, staying on the sidelines is wiser than acting on impulse. Waiting for clear direction before making a move isn’t too late—after all, there are always opportunities in the market.