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Title: Solana’s Breakout? Henrik Zeberg Makes Latest Call on SOL Price
As the crypto market continues to navigate its latest highs and lows, some investors are increasingly turning their attention towards alternative assets. In this context, it’s crucial to revisit a potential breakout of Solana (SOL), which has been gaining traction lately.
Recently, popular cryptocurrency influencer Henrik Zeberg made a bold call on SOL’s price movement. According to his analysis, the current market conditions appear favorable for a move higher. If SOL takes off, Negentropic suggests that JUP and WIF could gain traction.
Glassnode, in a recent tweet, indicated that Solana investors are holding firm, expecting higher prices. Long-term holders’ share of wealth locked in the network is increasing. The 6-12 month cohort now holds 27% of the supply, showing conviction from 2024 rally buyers. Meanwhile, the 1-2 year cohort has steadily declined, from 48% in June to just below 5%. These were earlier bull run investors who profited heavily during this year’s surge. This implies that, for now, those who wished to sell SOL have likely sold.
This data suggests a strong signal of conviction and confidence within the Solana community, indicating potential for increased price action.
Source: u.today
