- Solana price trends are bullish, testing key resistance levels.
- Wallets holding 10,000 $SOL rise by 1.53%, signaling growth.
- Analyst predicts Solana price could reach $300 soon.
Solana price has been consolidating recently, as SOL eyes a bullish trend. The cryptocurrency is still hovering above the support level of $130 as the crypto market countinue to trade in a sideways trend. Over the past week, the SOL price has shown a 7% surge, with the BTC price trading below the $85k mark.
Solana Wallets Holding Over 10,000 $SOL Show Growth
The price of Solana shows significant changes in ownership patterns by large-scale holders throughout the last week. The number of wallet addresses holding more than 10,000 $SOL has demonstrated a 1.53% surge according to demographic data since it expanded from 4,943 to 5,019 addresses. The minimal increase indicates that big investors are starting to show growing interest in using the Solana blockchain.
The Glassnode data shows increasing trends of large-holder actions within Solana’s market that might suggest developing confidence in Solana’s economic potential. Crypto analyst Ali presents a valuable graphic that shows wallet activity evolution while demonstrating the increasing dominance of significant players in the Solana platform.
Crypto Analyst Predicts Solana Price Will Reach $300
A crypto analyst indicated that the Solana price shows an expanding triangle pattern in its current state. The price analysis suggests that corrective waves have finished and the market has started a strong price recovery. The pattern indicates that a price increase should occur following market consolidation because it hints at strong upward momentum.
The analyst forecasts that Solana will achieve its next all-time high price of $300 within the upcoming time frame. The analyst reached this prediction by analyzing both market price movements and technical indicators that point toward a bullish direction for Solana. The pattern completion leads the way toward a potential powerful upward move, which backs up the predicted ATH goal.
Solana Price Targets $150 After Resistance
The latest Solana price analysis highlights a period of moderate gains, with the cryptocurrency trading at $136 at the time of writing. This represents a 0.54% increase over the past 24 hours. Despite this upward movement, Solana has faced some resistance around the $140.00 mark, indicating that this is a critical level for traders. The cryptocurrency is experiencing a slight pullback after testing this resistance, suggesting a potential consolidation phase before further movement in either direction.
The key support level to monitor in the near term is $130.00. Should the price hold above this level, Solana has the potential for a rebound and could make another attempt to break through the $140.00 resistance. This level is crucial for traders as it represents a significant threshold that could guide the direction of future price movements. A successful retest of the $140.00 resistance would set the stage for a potential move towards the $150.00 target.
The (Relative Strength Index) (RSI) currently sits at 56, suggesting that Solana is approaching overbought conditions. Meanwhile, the MACD (Moving Average Convergence Divergence) shows a positive momentum.
The MACD line remains above the signal line, which is generally considered a bullish sign. This alignment suggests that there is still room for upward movement, with the market likely to continue its bullish trend if support levels hold.
