The price of Solana (SOL) is experiencing volatility as large investors withdraw funds, while the number of new wallets continues to increase, indicating growing interest from individual investors. Despite selling pressure, technical signals still show resilience if SOL can break through important resistance levels. This article provides a detailed analysis of the behavior of Solana whales, the phenomenon of increasing new wallets, and the current technical trends, helping investors identify opportunities and risks in this cryptocurrency market.
The distribution behavior of Solana whales and its impact on the price of SOL
Large investors (whales) of Solana have experienced capital withdrawal after a short period of accumulation, resulting in notable selling pressure in the market. According to data from Glassnode, the net position of long-term holders (LTH) has shifted to a strong selling trend with outflows reaching up to 491 million SOL in just one day at the end of June, extending a selling streak over the course of a week.
This shift indicates that whales are reducing their holdings, especially as the price of SOL hovers around the 140 to 150 USD range, an important resistance area. The sell-off is likely to hinder short-term bullish breakout efforts, while also warning that profit-taking pressure remains significant from experienced investors in the cryptocurrency market.
The influx of new wallets and positive signals for Solana's future
Although Solana whales are retreating, data from Glassnode recorded a surge in the number of new wallets, peaking at 5.44 million wallets on June 22 — the highest in nearly two months. This indicates that capital flow from retail investors is beginning to show interest and participate in the Solana ecosystem, with hopes for the long-term potential of this cryptocurrency.
However, the number of new wallets has decreased back to 3.35 million by the end of June, close to the baseline level at the beginning of the month. This trend reflects short-term demand instability, but still opens up hopes that if the new investor group maintains their confidence, they could become a force to absorb the current selling pressure, supporting a sustainable price increase for SOL.
Solana's technical signals indicate resilience but still require a breakout
SOL's technical analysis shows positive signs with the RSI index maintaining around 51, indicating that demand and supply are also in a balanced state, with no clear strong trend. The MACD recently crossed above the signal line, creating a sign of a price reversal for the first time in several days, accompanied by the histogram chart turning green, signaling that the upward trend could be reinforced.
However, trading volume remains low at around 105,000 SOL, along with price candles that do not show clear decisiveness. This indicates that traders are maintaining a cautious attitude, waiting for SOL to break above 155 USD to confirm a stronger upward trend, before confidently participating in the market.
The risks and opportunities for Solana investors at this stage
While pressure from Solana whales still exists, the increase in the number of new wallets and technical recovery signals present accumulation opportunities for long-term investors. However, to sustain a sustainable upward trend, SOL needs to break above the resistance zone near 155 USD, before it can attract stronger capital flows in the highly volatile cryptocurrency market.
Investors should combine technical analysis with on-chain market behavior assessment, particularly focusing on indicators such as whale cash flow and the growth rate of new wallets, to make accurate investment decisions. Risk management and closely monitoring price signals are also key factors to protect the portfolio in the context of the volatile Solana market.
Conclusion on the price trend and future prospects of Solana (SOL)
Although Solana is under selling pressure from long-term holders and whales, the active participation of new investors creates an important foundation for long-term recovery. Technical indicators are beginning to show signs of mutual support to reinforce price increases, but a clear breakout is still needed to confirm a positive trend.
Investors need to closely monitor capital flow fluctuations and resistance levels while maintaining a cautious investment strategy during this transitional period. Solana has the potential to continue growing as its technology platform and user community expand, creating opportunities to capitalize on the vast and promising cryptocurrency market.
Source: https://tintucbitcoin.com/solana-dong-tien-ra-sol-len/
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