Solana Price Eyes 84% Rally Driven by Long-Term Holders
- Holder Structure Shift: The proportion of short-term holders has decreased from 6% to 4%, while mid-to-long-term holders have increased to nearly 15%, indicating a transition to more stable holders, which reduces price volatility risks.
- Price Support Signals: Solana's price is currently above the 50-day exponential moving average, indicating strong short-term momentum, and a sustained move above $149 could potentially open the path to an 84% rise towards $250-$253, enhancing market confidence.
- Increased Network Activity: Solana's stablecoin supply has risen by over $900 million, and Pump.fun's daily trading volume surpassed $2 billion, indicating that user activity remains robust despite declining short-term speculation, supporting the price increase.
- Cautious Positioning by Large Traders: While the top 100 futures market addresses remain net short overall, they are gradually adding long positions, reflecting a cautiously optimistic outlook for future price increases, further solidifying the market's upward potential.
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Technical Analysis for SOL
Technical Sentiment Analysis for Solana (SOL) As of , Solana (SOL) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for SOL stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, SOL is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Solana (SOL) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 15.808 | 41.654 | 67.158 | 93.004 | 118.508 | 144.354 | 169.858 |
| Fibonacci | 41.654 | 61.27 | 73.388 | 93.004 | 112.62 | 124.738 | 144.354 |
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