The black swan is coming! Double-digit sol September is bound to come!
Yesterday, the daily transaction fee dropped to $64w, the lowest in several months.
It is 87% lower than the historical high of $508w on March 18.
The low transaction fee since the beginning of May reflects the low enthusiasm of the current market.
Then the impact on the price of the currency must be significant.
The daily price increase on the 24th exceeded 10%, but the transaction fee was a new low in this environment.
At the same time, the locked volume of some sol decentralized exchanges has declined.
These factors all indicate that sol is already facing the risk of panic selling.
From the market point of view, the expected black swan after the daily level broke through the pattern at the end of July has already indicated that the market has reached a bottleneck. Even if the new blood enters the market after a 40% retracement, it still cannot change the phenomenon of weak market.
The current price is facing a key conversion position near 160. These data all indicate the direction of the price!
