While the downtrend in the cryptocurrency market worries many investors, Solana (SOL)$SOL
its price fell to its lowest level in a month. However, signs of recovery were observed during this period, and especially large investors started to evaluate the opportunities, which attracted attention. The fact that Solana was one of the first cryptocurrencies to recover increased the interest of investors.
According to recent analysis, whale purchases for Solana have increased significantly. According to Coinshare reports, Solana has seen an inflow of $1.7 million in recent weeks, suggesting that investors are adopting a “buy the dip” strategy. High trading volumes indicate that purchase activity is ongoing and increasing.
Solana peaked at $263.83 last November, but fell to $177.21 this month. Analysts evaluate this decline not as a negative development, but as a market testing process. It is stated that whales are evaluating opportunities during this period.
In technical analysis, recovery signals for SOL have become evident at important support levels. The price has started trading above the 200-day moving average, creating a promising foundation for future increases. Crypto experts state that 4-hour oscillator signals support the upward movement.
If the next resistance level is broken, Solana is expected to enter a strong bull trend. Analysts expect similar movements to be experienced in other altcoins during this process and think that altcoin rallies may accelerate after Bitcoin consolidation.
Solana’s recent price movements and whales’ remarkable investments have created a positive atmosphere in the markets. Investors’ strategies during this process point to Solana’s long-term upside potential and increase expectations for the future.