Solana (SOL) Gains Momentum: Whale Activity and Key Levels Point to Potential Bullish Surge

Solana is a blockchain built for mass adoption. It's a high-performance network that is utilized for a range of use cases, including finance, payments, and gaming.

Whales Activity-

On Tuesday, a notable acquisition occurred where a whale purchased 34,807 SOL tokens valued at approximately $4.52 million.

A whale in the Solana (SOL) market has recently sold 20,000 SOL tokens for about $2.66 million, coinciding with a big purchase by another investor. Over the year, this whale has sold around 715,000 SOL tokens, worth about $102 million, but still holds a substantial 1.84 million SOL, which is valued at around $246 million.

Features-

Transactions per second- 65000

Block time- 0.40 seconds

Fees- 0.00064 SOL per transaction

Re-test level- $140

Any daily close above $165 confirms further bullishness.

SOLUSD pared some of its gains due to profit booking.The pair holds above the short-term (34 and 55 EMA) and long-term moving average (200- EMA) in the 4-hour chart. It hit a high of $159.50 and is currently trading around $152.43.

The bullish invalidation can happen if the pair closes below $110. On the lower side, the near-term support is $133. Any violation below target $127/$120/$110.

The pair's near-term resistance is around $165. Any breach above confirms minor bullishness. A surge past $165 will take the pair to $175/$200.

It is good to buy on dips around $140 with SL around $127 for TP of $200.