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Solana Price Prediction: Will Increased Whale Activity Push SOL to $500?
Solana has recently made headlines again due to a significant increase in whale activity. According to a report by Glassnode, the number of wallets holding more than 10,000 SOL has increased by 1.53%, rising from 4,943 to 5,019 addresses. This new development allowed Solana to regain the barrier of $150.
At the time of writing this article, Solana is trading at $151.71, which represents a 20.44% increase over the last seven days. Now, analysts are reassessing their predictions, while bullish investors hold hope for a new bullish breakout of Solana.
According to the technical indicators of Solana, SOL is currently forming a "cup and handle" pattern (cup with handle), a typical bullish continuation signal. However, analysts are still closely watching whether the price manages to break key resistance zones, which would allow the token to advance towards higher price targets.