Solana’s Ethereum Scam Headaches Mask TD Sequential’s Bullish Signal – Is a Mega Rally Coming?

Solana's network is grappling with Ethereum-migrating scammers—just as its charts flash the most bullish signal since 2021. The TD Sequential indicator, notorious for predicting Bitcoin's 2020 breakout, now paints SOL green. Meanwhile, ETH maximalists dismiss the activity as 'tourist season'—before quietly checking their own portfolios.

Here's why traders are ignoring the noise and loading up:

• Scam volume remains 83% below January peaks (because even fraudsters take summer vacations)

• SOL's RSI coils at 54—prime springboard territory

• Open interest in SOL perpetuals spikes 40% in 72 hours

The kicker? This all happens while TradFi bankers still argue about 'blockchain vs. DLT.' Place your bets.

Ethereum-Based Scams Threaten The Solana Ecosystem Integrity?

Community sentiment has turned cautious after warnings from prominent Solana contributor Dean Little. He flagged the risk of ethereum “grifters” exploiting Solana’s fast and affordable infrastructure for scams, potentially undermining trust and driving away long-term users.

This concern isn’t unfounded, solana has seen its daily active addresses fall by 16% in the past week, with DeFi total value locked (TVL) dipping 8%. Though July was strong, with $9.85B TVL and $82B in DEX volume, signs of cooling engagement have coincided with SOL’s price retracing from its $206 high.

Despite the volatility, the TD Sequential buy signal has provided a technical lifeline. SOL is holding the 20-day EMA NEAR $178, a key dynamic support. Retail long positioning has surged, and open interest is rising, suggesting that traders are preparing for a move.

As SOL battles for control above $180, a sustained close above $190 could reignite momentum. Still, with Ethereum-based scams casting a shadow, traders must stay woke. The next few sessions could determine whether Solana’s bullish setup leads to a breakout, or succumbs to broader distrust.

Cover image from ChatGPT, SOLUSD chart from Tradingview