The Solana Price cooled after strong August. It was traded flat in the past 7 days and skated 1.1% in the last 24 hours. In contrast, monthly profits remained close to 26%, with three-month profits being around 35.8%.
Read this and see if Sol Price can repeat these August style benefits, the answer may be a shame. On-chain data indicates heavy profit bookings, and another metric has quietly become bearish. Together, these raise questions about how fast Solana can travel from here.
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Two metrics suggest active sales
On-chain data shows that in Solana the percentage of profit supply is still very high. As of September 3, nearly 95% of Solana owners were making profits, close to the six-month peak of 96.59% on August 8th. Even at the time of pressing, reading was around 87%, still at an overheating level. When such a high percentage rests on profit, the temptation to sell increases.
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History confirms this. Finally, profit supply fell sharply, with Solana Price, which was under 54% on August 2nd, at around $158.53. From there, Sol Price had risen to $214.51 by August 28th. This is about 35%. This indicates that Solana gathers mostly when there are fewer holders holding profits. Otherwise, everything tends to move higher.
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Check this because the HODL Waves metric tracks how long a coin is held before moving. Short-term holders – those who are held between a week and a month and between 1-3 months – peaked on August 19th, when Solana prices traded nearly $176.
Together, they controlled about 27% of the supply. Since then, their share has dropped to around 22%. These cohorts are gaining strength and show that profits are active in real time.
Weak money inflow reveals vulnerability in Solana’s price
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On the price list, Sol Price faces heavy resistance at $218. Closed on the latter, a clean candle confirms breakouts, marks new highs, and disables bearish views.
However, the issue of money flow keeps optimism low. The Chaikin Money Flow (CMF) waned sharply, measuring whether pressure was purchased or sales pressure controlled. On July 22, when Solana Price reached local highs, the CMF stood at 0.31, showing a strong influx. Since then, the price has gone high, but the CMF has dropped to –0.01.
This fork means that the whales and institutions are not adding fresh money to the Sol. Without these large influx, for-profit scholars will hardly resist at the time of sale. The lack of offset demand remains fragile and if key support fails, it is more likely to do a deeper pullback than rest.
On the downside, strong support is $194, with a level of $186 and $173 when sales deepen. Solana prices are currently stable, but the rest is far away unless the CMF improves.
