Can you pay 900 million SOL of Solana to return to
$SOL 200 dollars? In short
The price of Solana is at $180, with support at $175. The maturity of SOL could push towards $189, but the resistance at $201 still poses a challenge.
$905 million of SOL owed indicates the long-term confidence of its holders, however, the Chaikin Money Flow indicator shows increasing outflows, adding selling pressure.
If Solana drops below $175, it risks falling to $163, which would invalidate the bullish expectations and deepen the recent downward trend. Solana (SOL) has recently struggled to surpass the $200 mark, as it failed to break through this resistance last week.
Despite the setback, a shift in investor behavior, characterized by the maturation of holdings and an increase in the number of long-term holders (LTHs), may provide the necessary support for recovery and future gains.
Solana Investors Mature
In the past 24 hours, the supply of Solana that remained dormant between 6 and 12 months increased by 5 million SOL, worth over $905 million. This increase in supply indicates that a significant portion of the token holdings is maturing and shifting towards long-term investment.
The maturation of these tokens may indicate confidence in Solana's long-term prospects. As investors hold for longer periods, the circulating supply decreases, which could lead to upward price pressure.
#binancsquare $SOL