Whale Activity Drives Solana (SOL) Price Momentum Amid Analyst Expectations of Breakout Scenario

Analysts Bullish on Solana (SOL) Price Amid Whale Activity Surge

A surge in whale activity has sparked bullish sentiments among analysts regarding the price of Solana (SOL). The recent increase in buying pressure from large investors, also known as “whales,” has led to a rise in SOL’s value.

As reported by Coinspeaker, the RSI on the daily chart is currently at 58.78 with an upward gradient, indicating bullish momentum and key resistance around the $145-$150 range. The Bollinger Bands are widening, which may lead to increased volatility and a potential breakout scenario, with the mid-band (20-day SMA) serving as support near $124.

Ted Pillows, a crypto investor, observed that Solana’s current fractal resembles the bottoming pattern of late 2022. He predicts a rally towards $160-$180 by May and even hints at the possibility of a new all-time high in Q3 2025.

The MACD line is above the signal line, indicating both are in positive territory, which is a classic bullish signal. However, it is essential for traders to be cautious and monitor buying momentum as a bearish crossover could occur if this slows down.

It is worth noting that SOL has experienced a significant correction from its peak of $294 on January 19th, with the current price trading at around $140.

Source: https://www.coinspeaker.com/analysts-bullish-on-solana-sol-price-amid-whale-activity-surge/