Solana is gaining new attention in the crypto community with whale activity and supportive technical signals fueling expectations. Eyes are focused on new purchases by whales and chart configurations spelling out potential gains.
At the time of writing, SOL is trading at $237.92 with 24-hour trading volumes at $21.65 billion and a market capitalization of $131.32 billion. Even though the price has dipped by -4.15% during the last 24 hours, growing market activity is a sign of new confidence in the asset.
Prominent crypto analyst, PRIME 𝕏, pointed out that a popular whale wallet address “HsYrgw” made a huge buy today. The wallet purchased 11,233 SOL tokens worth approximately $2.75 million. This transaction has occurred just barely a week after the same whale stacked SOL worth $16 million, constituting a stable buildup strategy.
Adding to the rally further, crypto analyst BATMAN noted that Solana is about to form a clear inverse head and shoulders pattern on the 1-hour candlestick chart. That is a classic candlestick pattern generally thought to represent a buying signal, and SOL is preparing to stage another breakout if it completes the formation.
Both technical strength and whale activity are signaling increased inflows to Solana. Investors are keenly monitoring whether this momentum leads to another stinging upward leap. With inflows entering and bullish shapes being constructed, Solana is set to potentially witness another electrifying price rebound.
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The RSI is at 65.49, which is healthy buying strength but remaining below overbought levels. The MA Ribbon shows excellent support too, with key levels at 179.03, 180.22, 153.96, and 101.66 to hold SOL above key averages. This shows bulls are still in control while the price is consolidating.
On the MACD side, momentum is biased to the positive side as the MACD line is at 9.44, well above the signal line at 6.07, and the histogram indicates increasing bullish pressure. Given the prior crossover already underway, SOL can expect further upward momentum if volume remains supportive.
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