Solana (SOL) is drawing significant market attention following two large anonymous wallet transfers totaling 1.38 million $SOL , valued at over $235 million. These movements occurred as SOL traded just below the critical resistance level of $180. Market analysts remain divided—some view this as the onset of a new rally, while others anticipate potential profit-taking.

Price Action and Technical Outlook

SOL rose more than 4% today, reaching $177.28. Technical analysis highlights a rising triangle pattern, typically signaling a potential upward breakout. Maintaining support above $176 and breaking past $178 could pave the way for gains toward the $180–$185 range.

Capital Inflows Reinforce Bullish Sentiment

Spot market data shows a net inflow of $29.76 million into Solana, indicating strong accumulation by investors. Binance funding rates have turned positive (0.0076%), reflecting traders’ willingness to pay premiums for long positions, a key indicator of growing bullish confidence.

Low Social Media Activity Suggests Conviction Over Hype

Despite the price movement, social engagement around SOL has decreased, with social dominance falling below 3% and mentions remaining subdued. Analysts interpret this as a positive sign that the rally is driven by genuine conviction rather than speculative hype, supporting a more sustainable price trajectory.

Technical Indicators Support Continued Upside

Technical signals such as the MACD show bullish momentum with upward convergence of key lines. Should SOL break above $178, the absence of significant liquidation clusters may facilitate a smooth advance toward $185. Additionally, data indicates most short positions have been liquidated, reducing the risk of abrupt price corrections.

Conclusion: A Fundamentally Supported Bull Run

With substantial whale activity totaling $235 million, robust net inflows, and improving trader sentiment, Solana’s recent price action appears grounded in fundamentals rather than speculative frenzy. The muted social noise further suggests a steady, sustainable rally may be underway.

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