Solana [SOL] is accumulating bullish momentum after rebounding from a critical convergence zone of overlapping rising trend line support and the golden Fibonacci retracement range (0.618-0.7).
Technical setups indicate that Solana may be preparing for a new round of bull market.
The random RSI is in the oversold zone at the time of writing, further boosting confidence in the bullish outlook—an important indicator suggesting that Solana may have found a local bottom.
A technical combination—support rebounds plus momentum resets—often precedes strong upward price movements in trending markets.
But that's not all; SOL's on-chain indicators tell a different story.
Whale investors and retail investors are in agreement
Solana's on-chain indicators also lean bullish. According to CryptoQuant's future average order size data, SOL whale addresses have been quietly accumulating orders at the current trading price.
Meanwhile, the number of buyers among retail traders (especially positions under $1 million) has also surged significantly, reflecting a recovery in confidence among small investors.
The simultaneous accumulation by retail and whale investors indicates potential bullish strength, especially when it aligns with technical bullish indicators.
Can Solana break through $206?
The next major hurdle may be the recent local high of $206, where sellers previously outpriced buyers at that level.
If this dual accumulation trend continues—whale bids providing critical support and retail inflows increasing momentum—then SOL is very likely to attempt to break through key levels.
Although broader market conditions and Bitcoin's dominance may play a role, Solana's individual price movements and on-chain indicators suggest that bullish strength is increasing.
