Solana (SOL) Price Rises as Hodler Conviction Returns, 16% Rally Still Needed
- Long-Term Holders Increasing: Since December 26, the supply held for 6 to 12 months has risen from 13.9% to 14.7%, indicating a return of confidence among long-term investors, which could drive prices higher.
- Decreased Short-Term Selling Pressure: The proportion of holders in the 1-day to 1-week category has dropped from 7.04% to 4.87%, suggesting that a reduction in short-term traders may slow down selling pressure, providing upward price movement space.
- Critical Price Range: Solana is currently fluctuating between $126 and $130, and a strong breakout above $149 could open targets at $169, $185, and potentially $201, while a drop below $116 could signal a bearish reversal.
- Decentralized Exchange Activity: Solana's decentralized exchanges have processed over $1.7 trillion in trading volume this year, indicating increased real trading activity, which provides a solid foundation for price stability.
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Technical Analysis for SOL
Technical Sentiment Analysis for Solana (SOL) As of , Solana (SOL) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 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 | 17.557 | 42.528 | 69.177 | 94.148 | 120.797 | 145.768 | 172.417 |
| Fibonacci | 42.528 | 62.247 | 74.429 | 94.148 | 113.867 | 126.049 | 145.768 |
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