Solana (soil) has struggled to grow in the past two weeks, and its price has failed to recover significantly.
Despite this, Altcoin has seen signs of stabilization, with long -term holders (LTH) showing increasing support. This change could indicate a potential price increase, provided that the current trend is due.
Solana investors move to accumulate
The change of position of the Net Hodler for Solana has been positive for four days, with coherent green bars indicating that LTH accumulates more soil. It is the longest accumulation sequence in more than six months, signaling the confidence of long -term investors.
While these investors continue to add to their positions, Solana could build a solid base for a price rebound.
LTHs tend to significantly influence Solana’s price because their assets reflect longer-term confidence in cryptocurrency. If this trend continues, the growing support of LTHs could provide the support necessary to help Solana to unravel key resistance levels.
However, despite the support of LTHS, the global feeling of the Solana market is still mixed.
New addresses, an important metric for the interest of investors, recently reached a six -month hollow. This indicates that less new investors enter the market, reflecting a lack of optimism for a short -term recovery. The last time the new address activity was this weak was in October, which suggests that investors’ confidence is currently moderate.
The drop in new addresses could report caution among potential buyers, affecting the overall momentum of Altcoin. While the LTHs continue to accumulate, the lack of fresh interest from new investors could delay any significant rise for Solana.
Price soil vulnerable to correction
Solana is currently negotiating at $ 119, holding just above the $ 118 crucial support level. While Altcoin tries to increase to $ 135, mixed market feelings suggest that it could find it difficult to unravel this resistance.
The price could consolidate between $ 118 and $ 135 because it creates enough momentum for a potential rally.
If Solana manages to bounce back, he can continue to negotiate himself in this range, allowing the market to stabilize and support the additional price appreciation. Consolidation could help soil to come together before another attempt to violate the level of $ 135.
However, if the price falls below $ 118, this could indicate a change of momentum, invalidating neutral upward perspectives. A drop below this level of support would probably lead to additional declines, which could reduce Solana to $ 109, which would extend the losses of investors.
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In accordance with the Trust project guidelines, this price analysis article is for information purposes only and should not be considered as financial or investment advice. Beincrypto is committed to exact and impartial reports, but market conditions are likely to change without notice. Always carry out your own research and consult a professional before making financial decisions. Please note that our terms and conditions, our privacy policy and our non-responsibility clauses have been updated.
