#Sol Solana (SOL) Analysis on 4/12/2024

1. Price and Technical Trends:

• The current price of Solana (SOL) is fluctuating around 224-227 USD, with a slight increase of 2.49% over the past week and a significant rise of 45.5% over the month

• Technical indicators on TradingView show buy signals in both the short term (1 week) and medium term (1 month)

2. Whale Actions:

• Currently, whales are focusing on accumulating Solana in the price range of 215-230 USD. High trading volume (over 8.5 billion USD in the past 24 hours) indicates strong interest from large investors

3. Blockchain Analysis:

• Solana has a high transaction speed (up to 65,000 TPS), maintaining its attractiveness compared to Ethereum and other blockchains. This is a significant advantage that attracts dApp and NFT developers

4. Market Situation:

• With exceptional growth (276.44% over the past year), Solana is in a strong upward trend due to the recovery of the entire cryptocurrency market. However, risks still exist due to high volatility

Valuation and Mid-term Recommendations:

• Mid-term Expectation: If the upward trend continues, Solana may target the resistance area around 250-260 USD. However, you need to closely monitor macro factors and sell-off actions from whales.

• Strategy: If you are a mid-term investor, this is a reasonable time to accumulate at the current price range. But be prepared with an exit strategy if the price falls back below the important support level of 210 USD.