Whales Start Accumulating SOL Coins
Solana Price Up 9% Today
Analysts Evaluate Recovery Positively
The ongoing decline in the crypto market has resulted in new losses. Solana went through a difficult period, falling to a one-month low, but today it started to show signs of recovery. What is even more remarkable is that SOL attracted the attention of investors as one of the first cryptocurrencies to recover from the decline. Here are the details of this recovery process.
According to Coinshare data, whale activity has increased significantly in recent days. Last week, inflows into Solana reached $1.7 million, indicating that investors are adopting a “buy the dip” strategy. This week, trading volumes have remained high. Interestingly, whale participation has also increased significantly, with investors buying ahead of a potential bull trend in mid-2025.
Solana, which reached its peak at $263.83 in November, fell to $177.21 with a 29% decline in the crypto market. However, analysts evaluate this situation not as a decline, but as a retest phase. Whales made significant purchases by evaluating opportunities during the price decline.
Solana Analyses$SOL
On the Solana charts, recovery signals are becoming evident, starting from the main support around the 200-day moving average. This presents an opportunity for the SOL price to break above the VWAP based on the September lows. Crypto analysts say that this is a significant opportunity for Solana to start its recovery. Furthermore, the bullish signals given by the 4-hour oscillator support this analysis.
The next resistance level is located at the 5-day moving average level, a break above which would confirm continued bullish momentum.
Solana and other altcoins could continue their bullish momentum as whales continue to buy. Solana, which is up 9% today, still has 29% to go for its ATH (all-time high). Many analysts suggest that this period is a retest period for the uptrend and that altcoins could come to the fore in April-May. During this period, Bitcoin is expected to consolidate at $94,776.2, making room for altcoins and triggering a 5 to 10-fold rally.