Can Solana Surpass $260 Again? Whale Accumulation Might Not Be Enough
Solana [SOL] recently climbed from $157 to an all-time high of $264 within just 20 trading days, driven by Bitcoin's bullish momentum and its status as an "Ethereum Killer." However, strong resistance at this peak has caused a retracement below $240, leaving many to wonder about its next move.
📈 What Could Trigger a Breakout?
A potential breakout might occur if Bitcoin surges past $100K, igniting widespread FOMO, or if SOL manages to flip $240 into solid support. Although the outlook is positive, most investor attention has shifted toward Bitcoin, making another immediate ATH for Solana less likely.
🐋 Whale Activity and RSI Insights
Whales are taking advantage of the dip, accumulating SOL at lower prices. This provides a solid base, especially as the RSI signals a neutral stance, hinting at a buying opportunity. Holding the $240 mark is crucial for sustaining momentum and avoiding a drop below $220.
💡 Challenges and Possibilities
Bitcoin's dominance has redirected capital flows, leaving Solana struggling to generate similar excitement. With retail investors focusing on other altcoins, whale activity becomes critical in countering selling pressure. A breakout above $240 could trigger FOMO, potentially paving the way for a new rally.
⚡ Bottom Line
For Solana to surpass $264, it needs more than whale accumulation—it must recapture retail interest and leverage Bitcoin's peak momentum. Reclaiming $240 seems achievable in the short term, but reaching new highs may require more time and broader market participation.
