Solana (SOL) is attracting further attention in the crypto market as institutional exposure increases. Analysts suggest strong whale action and critical technical locations that can determine its next direction, citing that possible momentum could be in the works despite recent movements.
At the time of writing, Solana is trading at $233.55 with a 24-hour trading volume of $28.11 billion and a market capitalization of $129.23 billion. Despite recording a -5.42% dip over the last 24 hours.
Renowned crypto analyst Junaid Dar recently noted that institutional investors are entering Solana aggressively. Galaxy Digital purchased 1.2 million SOL, valued at approximately $306 million, within a single 24-hour session.
The massive buy came in continuation of their earlier buying spree, and it raised the five-day total of the firm to 6.5 million SOL. Dar thinks that such accumulation shows resolve by big guns who are of the view that there is great potential in the ecosystem of SOL.
Investors are tipping that more whale activity will take the market to its next positive leg. Dar noted that such consistent institutional support so often acts as a catalyst, driving prices higher in a shorter time frame than most expect.
Also Read | Can Solana Break Its $260 ATH and Close 2025 Above $300?
Another well-known analyst, XForceGlobal, also stated that three key price levels could be in play before a deeper correction happens to SOL. He added that it is at $260, $380, and $460 that investors should be looking out for in the weeks to come.
That notwithstanding, longs’ risk-to-reward ratio remains poor unless further leverage is added in, a fact that could further dampen retail investors’ appetite.
Despite short-term volatility, large institutional inflows, whale accumulation, and obvious technical objectives have transformed SOL into one of this market’s most closely watched cryptocurrencies. Gathering steam, speculation now centers around whether SOL will continue its upward momentum towards the next major resistance areas.
Also Read | Solana Gains Momentum as Galaxy Digital Invests $1.2 Billion in SOL Tokens
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