Solana Price Surges as Whales Resurface, Targeting Over $250
Solana (SOL) is experiencing a bullish trend, overcoming previous bearish pressure. Key points include:
- Current price sustains above $200, indicating potential for further gains.
- Recent recovery from the $189 support level after a 35% decline.
- Resistance trendline breached, suggesting a double-bottom reversal pattern.
- Key levels: neckline at $208 and 20 EMA as base. 4-hour RSI nearing overbought conditions.
Whale Activity
- A dormant whale resurfaced, withdrawing 30,901 SOL (worth $6.24 million) from Binance.
- This whale previously made a profit of $8.15 million on past trades.
- Another smart whale withdrew 61,319 SOL, totaling $12.4 million at an average price of $202.53.
Price Targets
- Fibonacci levels suggest targets of $232 (50%) and $261 (78.60%).
- Potential bullish extension of around 27% if targets are reached.
- Support remains critical at the $189 level.