Solana ($SOL ) investors are showing that they are not just sitting around with the expectation that the price will continue to rise.

Increase in Long-Term Investors

They claim that they currently own a significant portion of SOL. Investors believe that the bull market of Solana is not over yet.

Long-term Solana investors are not giving up.

In 2022, investors largely sold their assets, and there is currently little selling pressure.

Expecting a big rally for Solana.

It shows that Solana (SOL) investors are not waving their hands with the expectation that the price will continue to rise.

Increase in Long-Term Investors

Decrease in Selling Pressure

Upcoming Great Rally Expectation

It is stated that long-term investors currently have a significant portion of SOL. Investors believe that the bull market of Solana is not yet over.

"Solana investors are not giving up, expecting prices to rise. The ownership rate of locked assets by long-term investors on the network is increasing. The 6-12 month group holds 27% of the supply, indicating the confidence of 2024 rally buyers."

Decrease in Selling Pressure

It is stated that investors who have accumulated SOL at the end of the 2022 market cycle largely sell their assets. The distribution of the 2022 investor group shows that there is currently weak selling pressure for SOL.

By the way, the 1-2 year group has consistently decreased and has now dropped to just under 5% from 48% since June. These investors from the previous bull market largely took their profits during this year's rally. For now, those who want to sell SOL have likely already sold.

Expectation of Upcoming Big Rally

Solana is predicted to be gearing up for a major rally. SOL could target the previous high point of $264 by surpassing a certain price level.

"SOL has reached the designated area and pulled back towards $230. If it surpasses $235 on the daily time frame, it may break the consolidation and target the previous high of $264. The daily RSI (relative strength index) is neutral and far from the overbought zone - favorable for upward movement."

Continued long-term investor support for Solana may have a positive impact on future price movements. Investors continue to carefully monitor market conditions.

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