Since early June, Solana (SOL) has been trading sideways within a narrow range, struggling to break above the resistance at $158.80 or fall below the support at $141.97. While this period of price stagnation might seem uneventful, some investors see it as a clear buying opportunity.
🔹 Long-term holders (LTH) are taking advantage of the situation and quietly accumulating.
Declining “Liveliness” Suggests Growing Confidence
According to data from Glassnode, Solana’s “liveliness” metric — which measures activity from previously dormant tokens — has been on a downward trend since hitting a 90-day high on June 4. It recently dropped to a 30-day low of 0.764.
🔹 Tokens are moving less,
🔹 Long-term investors aren’t selling,
🔹 And they're shifting their assets off exchanges — likely to safer storage.
All of this signals growing confidence in Solana’s price outlook and reduced willingness to exit positions.
NUPL: Hope Prevails Over Fear
Another key metric, Net Unrealized Profit/Loss (NUPL), remains in the “hope zone.” At 0.108, it suggests investors are modestly in profit but aren’t yet taking profits.
🔹 Investors are waiting — not greedy, but not fearful either.
🔹 This phase often precedes the early stages of a bullish trend.
What’s Next? Bulls Target $170
At the time of writing, SOL is trading around $148. If it manages to break through the critical resistance at $158.80, the price could quickly rise toward the $170 mark. Continued accumulation and improving sentiment would be key.
❗ On the flip side, a drop below the support at $141.97 could see SOL falling as low as $123.49.
Summary: Calm Before the Storm?
Long-term holders of Solana continue to bet on a breakout. Indicators like liveliness and NUPL suggest that SOL is in a consolidation phase — often a precursor to strong moves in either direction.
👉 If optimism turns into momentum, a bullish breakout may follow. Otherwise, intensifying sell-offs could briefly derail sentiment.
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