Solana investors seem to have made a collective decision: sit tight and stack SOL. For nearly three months, they’ve stuck to accumulation like glue, with only one instance of selling overtaking buying. That’s some serious diamond-hands energy.
It’s not just a vibe, it’s a trend. The data shows investors aren’t scrambling for exits but instead holding steady, signaling a rather bold belief in Solana’s long-term game. And honestly? It’s kind of refreshing to see in a market that panics over a 2% dip.
Even better, Solana’s Network Value to Transactions (NVT) ratio is sliding down, which is a good thing (for once, down is up). A falling NVT means the network value is syncing up with actual transaction activity
Translation: The hype might actually be real.
So, while some coins are throwing tantrums, Solana is quietly aligning value with usage. Could this be a solid setup for a price rebound? Possibly. But let’s not jinx it.
Price Watch: SOL Balances on a Thin Green Line
At the time of writing, Solana is parked at $146, just barely above the critical support level of $144. That level has been doing God’s work this month, keeping SOL from sliding into bear-town.
Now, if this $144 floor holds firm, SOL could bounce its way up to the $152 resistance zone, and if things get spicy, maybe even hit $161. A clean breakout could spark some serious FOMO.
But let’s not get too cozy, if the bulls tap out and bearish pressure takes over, Solana could tumble below $144, which opens the trapdoor to $136. At that point, the current bullish hopes would need a full reset.
So, are we about to see Solana flex again? If the accumulation trend and NVT signals are anything to go by, there’s a glimmer of hope. But as always in crypto, hold your breath, not your bags.
Dayo Paul
Disclaimer: All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that despite the nature of much of the material created and hosted on this website, HODL FM is not a financial reference resource, and the opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice. HODL FM strongly recommends contacting a qualified industry professional.
