Weekend Simple Recap of $XPL Position, Long +126%+

That massive unlock wave of nearly 10 million USD at the end of February a while back had most people's first instinct being to blindly short after seeing the news, but this was only first-layer thinking.

The core reversal signal this time came down to three words: Can't smash it down

With such obvious selling pressure crashing down, not only did the market not collapse, it actually rallied against the trend by over 10 points. Once an extreme stress test passes, it means the blood chips at the bottom were already cleaned up long ago. When short sellers discovered they couldn't push it down, their panic liquidations became fuel for the upside instead.

Actually, sentiment and capital have been severely diverged during this period. Retail traders were staring at the unlock calendar in panic every day, but if you look at the on-chain data, over 4 billion USD quietly flowed in through cross-chain bridges, and Tether just printed 50 million USDT on-chain again. Smart money was accumulating in the shadows all along.

The coin price crashed 90% from its high and had been bottoming around 0.09. When the biggest bearish catalyst gets disproven by the market itself, we entered at the 0.0943 level where downside defense space was extremely limited, and the risk-reward ratio was maximized.

So-called bearish catalysts exhausted, unable to smash it down is the biggest bullish signal.