Solana Eyes Recovery as Investors Quietly Accumulate $345 Million Worth of SOL
🔥 Key Takeaways
- Solana (SOL) has been trading cautiously after failing to sustain upside momentum last week.
- Recent on-chain and institutional activity suggests investors are positioning for a rebound.
- A total of $345 million worth of SOL has been accumulated by investors, potentially setting the stage for renewed price strength.
Solana’s Price Recovery Delayed, But Not Denied
Solana’s price slipped out of last week’s consolidation phase after failing to sustain upside momentum, delaying a recovery toward the $150 mark. Since then, SOL has traded cautiously, awaiting stronger confirmation of a potential rebound. However, recent on-chain and institutional activity suggests that investors are quietly positioning themselves for a price surge.
Institutional and On-Chain Activity Points to Accumulation
According to recent data, investors have accumulated a staggering $345 million worth of SOL, indicating a strong bullish sentiment. This accumulation is likely to set the stage for renewed price strength, potentially leading to a rebound in the coming weeks. The fact that investors are quietly accumulating SOL without much fanfare suggests that they are confident in the long-term potential of the Solana blockchain.
What to Expect in the Coming Weeks
As we approach the end of the year, the cryptocurrency market is expected to experience increased volatility. However, with investors positioning themselves for a rebound, Solana’s price may be poised for a significant surge. If the current accumulation trend continues, we may see SOL break through the $150 resistance level and potentially reach new highs in the coming weeks.
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