The article provides a detailed overview of Solana (SOL) holding patterns and price trends in the near future, based on data from Glassnode and technical analysis. Here are the highlights and insights:

1. Growth of 6-12 Months Holding Group (HODL)

• Investors who bought SOL in the past 6-12 months account for up to 27% of the total supply, indicating a significant accumulation.

• This group, along with investors in the 3-6 months (13%) and 1-3 months (11%) brackets, makes up the majority of the supply. This indicates that short- and medium-term investment trends are predominant.

• Short-term holders are more optimistic: They believe in SOL's long-term growth potential, while the long-term holding group (1-5 years) currently only constitutes a small proportion.

2. Realized Price of SOL

• The current realized price of SOL is 133.34 USD, much lower than the current market price (~219.95 USD). This is often a bullish sign, as the market price far exceeds the average price at which investors bought in.

• If the price remains above the realized price and the market doesn't face a major correction, SOL could continue its upward momentum.

3. Technical Analysis: Bullish Flag Pattern

• On the daily chart, SOL has formed a bullish flag, a positive signal for a breakout.

• If it surpasses the upper trend line of the pattern, SOL's price could reach 290 USD by the end of 2024.

• In an extremely optimistic scenario, SOL's price target could reach up to 500 USD by 2025, according to VanEck's forecast.

4. Risks and Market Factors

• Although the trend is favorable, risks still exist, especially if:

• General market conditions worsen (e.g., declining liquidity, crypto market volatility).

• Supply from large investors has decreased due to sell-offs, putting downward pressure.

• In the worst-case scenario, SOL could drop to the support level of 189.36 USD.

5. Insights

• With strong accumulation from investor groups recently and a clear bullish pattern, SOL is poised for significant growth potential.

• However, the ability to reach 500 USD depends on many factors, including overall crypto market performance, Solana's adoption, and macroeconomic factors.

If you are considering investing, closely monitor these factors and assess risks before making a decision.

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