Recently, trade tensions have escalated, and market sentiment is somewhat tense. SOL's recent correction has been quite fierce—dropping from a high of 148.7 all the way down to 124.8, a decline of 16%. The current question is whether this is a temporary bottom or if the decline will continue.

From a technical perspective, there are some signs of a bottom near 124.8, but it's not yet stable. I believe the key support level is around 123. If it can hold above 123, it indicates that the decline might be coming to an end. Conversely, if it breaks below 123, further observation is needed.

A noteworthy detail is that the SOL ETF recorded a small net inflow on January 20th. Although the amount isn't large, it suggests that some institutions are still buying the dip. More aggressive traders might consider taking a small long position near the support level. However, remember that this is a temporary opportunity, and risk management should be in place.