Just checked SOL and it's sitting around $79 now after that brutal sell-off. The market really went into panic mode - we hit $78.31 at the lows before some buyers stepped in. What's interesting though is that despite the 11% weekly drop, I'm seeing a bullish divergence forming on the Chaikin Money Flow chart. Even when price was tanking, CMF was actually climbing, which usually means whales were accumulating at these lower levels.

Liquidations hit hard - $24.7M in SOL longs got wiped out in 24 hours. Funding rates turned negative which is bearish on the surface, but combined with that bullish divergence signal, it feels like smart money is positioning for a bounce. Spot ETF outflows are real though - first weekly withdrawal since launch suggests some institutional hesitation.

Technically, we need to see a daily close above $120.88 to confirm the correction is over. That's where the 20-day EMA sits and it's a key breakdown point from late January. If we can hold support and get there, next targets are $128 and $148. The bullish divergence I mentioned earlier is the main reason I'm not totally bearish here - it's suggesting accumulation despite the panic selling. Short-term traders are adding noise, but long-term holders haven't panicked, which is a decent sign.