The recent price fluctuations of Solana are reflected by dramatic movements in Ruilaldi.
According to Glassnode -Data, More than 2.7 million SOL, with a value of around $ 423 million, flowed back to fairs in just nine days, after a sharp influx caused by investment uncertainty.
Source: Glassnode
This reversal follows a FOMO-driven accumulation phase, in which a similar Volume Sol was purchased at the end of May. The graph shows that buying speculatively, quickly followed by profitable, has created increased price volatility.
While investors continue to cycle between collecting and leaving, the upward momentum of SOL is confronted with repeated resistance.
A parabolic step forward?
According to Crypto Analyst Ali Martinez, Solana is about to have an enormous technical outbreak.
Source: X
His graph shows a textbook cup and handle formation, in which Sol consolidates $ 200 just below the crucial resistance level.
A decisive movement above this threshold could unlock a 5x to 10x Bull Run, which means that the prices may be sent to the range of $ 1,000 $ 2,000.
Although the formation points to long -term bullish momentum, the pattern remains incomplete until a breakout occurs.
The Solana price promotion in the coming weeks could determine whether the hype is changing into historical profits.
Momentum builds up, but bulls are confronted with a crucial test
At the time of writing, the Sol Daily Chart showed a strong rebound of recent lows, with five consecutive green candles that push the price to $ 170.
The RSI was at 55.56 – neutral but leaning bullish – which indicates the space for further upside down.
In the meantime, the MacD crossed the signal line from below, which suggests a shift in a short -term momentum.
Source: TradingView
However wThe volume drops and price that is just below the resistance will need Bulls a stronger conviction to keep the upward trend alive.
If Sol breaks above $ 170 with solid volume support, this could set up a movement to $ 200.
Without that outbreak, however, a pullback will probably remain because buyers show hesitation near important resistance levels.