news 
Solana’s Breakout? Henrik Zeberg Makes Latest Call on SOL Price
In a recent tweet, cryptocurrency influencer and Solana enthusiast Henrik Zeberg expressed his latest views on the price action of SOL. He believes that the current market trend is favorable for a move higher. This comes as a surprise to many traders who have been anticipating a correction or at least a significant consolidation phase.
Zeberg suggests that if SOL takes off, other tokens like JUP and WIF could also gain traction. His call has sparked heated debates within the crypto community, with some investors questioning his analysis.
What’s behind Zeberg’s bullish stance? According to Glassnode, Solana investors are holding firm, expecting higher prices in the near future. Long-term holders’ share of wealth locked in the network is increasing. The 6-12 month cohort now holds 27% of the supply, indicating conviction from the 2024 rally buyers. On the other hand, the 1-2 year cohort has steadily declined, from 48% in June to just below 5%. This trend implies that those who wished to sell SOL have already done so.
In conclusion, this data suggests that Solana investors are not willing to part with their coins at current prices. Zeberg believes that this could lead to further upside action for the token.
Sources:
* Glassnode
* Negentropic
Source: u.today
