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Solana Price Rises 9%, But Holder Shift Raises New Crash Risk

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SOL Hodlers

Solana price has rebounded nearly 9% after falling to around $75 on February 23, and it is still holding most of those gains above $82.

This kind of bounce normally attracts strong buyers because it suggests the worst may be over. But that is not what is happening this time. The investors who usually step in during recoveries — long-term holders — are stepping back instead. This creates an unusual disconnect between price and conviction, and it helps explain why Solana’s rebound is already facing pressure.

Long-Term Holder Buying Has Dropped Nearly 62% Despite the Price Bounce

The clearest sign of weakening conviction comes from the HODLer Net Position Change metric. This indicator measures how much long-term holders, defined as wallets holding Solana for more than 155 days, are adding or reducing over a rolling 30-day period.

On February 10, long-term holders added about 1.5 million SOL. By February 24, that number had fallen sharply to just 564,317 SOL. This marks a drop of about 62.5% in accumulation within two weeks. This decline happened even as Solana’s price stabilized and rebounded, which makes the shift especially important.

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SOL Hodlers
SOL Hodlers: Glassnode

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In simple terms, Solana’s strongest holders were buying aggressively earlier in the month, but that confidence has faded significantly. When accumulation falls this sharply, it suggests these investors are no longer convinced the current bounce is the start of a sustained recovery. Despite the SOL price bounce, the Hodler positioning is at its lowest monthly level.

Disclaimer: This does not mean long-term holders are heavily selling, but it shows their buying momentum has weakened sharply.

SOL Price Bounce
SOL Price Bounce: TradingView

This shift is not limited to the oldest holders. Mid-term holders, who have held Solana between one month and three months, have also been reducing their exposure. Their share of total supply fell from 19.52% on January 25 to about 14.08% on February 24. This represents a 27.9% relative decline in their supply share in just one month.

Mid-Term Holders Drop
Mid-Term Holders Drop: Glassnode

What makes this important is the timing. This reduction persisted even as Solana’s price rose over the past two days. Instead of buying the rebound, many holders appear to be using it as an opportunity to exit.

A 22 Million SOL Supply Wall Is Blocking the Recovery

The lack of strong buying becomes more concerning when combined with Solana’s cost basis distribution data, which reveals where investors last bought their coins.

This data shows a major concentration of supply between $82.81 and $83.79. More than 22.16 million SOL was accumulated in this range. This is one of the largest supply clusters currently sitting above the price.

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SOL Heatmap
SOL Heatmap: Glassnode

This range represents a break-even zone for many holders who bought earlier and held through the previous dips. When price returns to their entry level, these investors often sell to recover losses or reduce risk in a weaker market.

This helps explain why Solana’s rebound is already slowing near $82.91. The price is running into a large group of holders waiting to exit at break-even.

At the same time, long-term holder accumulation has already dropped by more than 60%, which means there are fewer strong buyers available to absorb this supply. This imbalance between sellers and buyers makes it harder for the rebound to continue.

Solana Price Path Still Points to a 17% Drop

Solana’s technical structure adds another layer of risk to the current rebound. Before this bounce, Solana confirmed a bearish head-and-shoulders pattern and dropped to around $75.69.

SOL Price Structure
SOL Price Structure: TradingView

Even after the recent rebound, the projected downside target from that pattern still points toward the $68.71 region. From the current price near $82.52, a drop to $68.71 would represent an additional decline of about 17%. This means the recent 9% bounce has not yet invalidated the broader bearish structure. Moreover, Solana tried to cross the $82.91 mark but failed, largely due to the supply cluster around that level highlighted earlier.

For the recovery to strengthen, Solana must first break and hold above $82.91, which is the immediate resistance created by the supply cluster. If that level is cleared, the next resistance sits near $86.82. A move above $91.33 would fully invalidate the bearish pattern and confirm that the downtrend has ended.

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Solana Price Analysis: TradingView

However, continued rejection at $82.91 would increase downside risk.

If Solana falls below $80.89 again, it could quickly retest $74.96. A break below that would reopen the path toward $68.71 and other lower levels, which remain the active downside projection from the bearish pattern.

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Crypto World

Is The Bull Market Back?

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Is The Bull Market Back?

Key points:

  • Bitcoin bulls have pushed the price above $69,000, signaling solid dip buying at lower levels.

  • Several major altcoins have turned up sharply, suggesting that selling pressure is reducing.

Bitcoin (BTC) bulls purchased Tuesday’s dip and are attempting to sustain the price above $69,000 on Wednesday. According to SoSoValue data, BTC exchange-traded funds recorded net inflows of $257.7 million on Tuesday, the largest inflows since Feb. 6. That suggests investors are viewing the dips near $60,000 as a buying opportunity.

Santiment said in a post on X that BTC’s correlation with stocks has broken down in the past six months. The S&P 500 rose 7% during the period, while BTC fell 43%. However, the on-chain data provider added that the disconnection is unlikely to stay forever. If BTC follows its historical pattern of tracking equities during economic expansions, then “it may have significant room to catch up.”

Crypto market data daily view. Source: TradingView

Not everyone is bullish on BTC’s prospects in the short term. Glassnode said in a post on X that BTC’s realized profit/loss ratio (90-day moving average) slipped below 1. Historically, breaks below 1 have resulted in at least six months of loss realization before the level was reclaimed. 

Could BTC and select major altcoins break above their overhead resistance levels? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

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Bitcoin price prediction

BTC has risen sharply from the $62,510 level on Tuesday, indicating that the bulls are vigorously defending the $60,000 level.

BTC/USDT daily chart. Source: Cointelegraph/TradingView

Buyers will attempt to thrust the Bitcoin price above the 20-day exponential moving average ($69,375). If they succeed, the BTC/USDT pair may rally to the breakdown level of $74,508, where the bears are again expected to mount a strong defense.

Sellers will have to successfully defend the 20-day EMA if they want to retain the advantage. If the price turns down sharply from the 20-day EMA, the $60,000 support may be at risk of breaking down. If that happens, the pair may plummet to $52,500.

Ether price prediction

Ether (ETH) turned up from the $1,800 level on Tuesday, indicating that the bulls are attempting to retain the price inside the $1,750 to $2,111 range.

ETH/USDT daily chart. Source: Cointelegraph/TradingView

The relief rally is expected to face selling at the $2,111 level. If the Ether price turns down sharply from $2,111, the ETH/USDT pair may extend its stay inside the range for a few more days.

Alternatively, if buyers propel the price above the $2,111 level, it suggests that the bears are losing their grip. The pair may then surge to the 50-day SMA ($2,540), where the bears are again expected to step in.

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XRP price prediction

XRP (XRP) turned up sharply and has reached the 20-day EMA ($1.46), indicating that the bulls are attempting a comeback.

XRP/USDT daily chart. Source: Cointelegraph/TradingView

If the XRP price closes above the 20-day EMA, the XRP/USDT pair may rally to the 50-day SMA ($1.70) and eventually to the downtrend line. Buyers will have to clear the hurdle at the downtrend line to signal a potential trend change.

Sellers are likely to have other plans. They will attempt to defend the moving averages and pull the price below the support line. If they can pull it off, the pair may nosedive to the Feb. 6 low of $1.11 and then $1.

BNB price prediction

BNB (BNB) has risen sharply from $577, indicating that the bulls are aggressively defending the $570 level.

BNB/USDT daily chart. Source: Cointelegraph/TradingView

Buyers will have to swiftly drive the price above the 20-day EMA ($641) to strengthen their position. If they manage to do that, the BNB/USDT pair may rise to $669 and eventually to $730.

Contrary to this assumption, if the BNB price turns down and breaks below $570, it indicates that the bears are in control. The pair may then resume the downtrend toward the psychological level at $500.

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Solana price prediction

Solana (SOL) dipped below the $76 support on Tuesday, but the bears could not maintain the lower levels.

SOL/USDT daily chart. Source: Cointelegraph/TradingView

The SOL/USDT pair is attempting a recovery, which is expected to face selling at the 20-day EMA ($87). If the price turns down sharply from the 20-day EMA, the possibility of a break below the $76 level increases. The Solana price may then tumble to the Feb. 6 low of $67.

Instead, if bulls push the price above the 20-day EMA, the relief rally may reach the $95 level. This is a crucial level to watch out for, as a close above $95 suggests that the bulls are back in the game. The pair may then rally toward $117.

Dogecoin price prediction

Dogecoin (DOGE) turned up sharply from the $0.09 level, and the bulls are attempting to drive the price above the 20-day EMA ($0.10).

DOGE/USDT daily chart. Source: Cointelegraph/TradingView

Sellers are unlikely to give up easily and will strive to defend the 20-day EMA. If the Dogecoin price turns down from the 20-day EMA, it increases the likelihood of a drop to the $0.08 support. Buyers are expected to fiercely defend the $0.08 level, as a close below it may start the next leg of the downtrend to the $0.06 level.

Buyers will have to maintain the price above the 20-day EMA to indicate that the bears are losing their grip. The DOGE/USDT pair may then march toward the breakdown level of $0.12.

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Bitcoin Cash price prediction

Bitcoin Cash (BCH) turned down sharply from the 50-day SMA ($564) and fell below the $500 support on Monday.

BCH/USDT daily chart. Source: Cointelegraph/TradingView

The 20-day EMA has started to turn down, and the RSI is in the negative territory, indicating an advantage to the bears. That suggests the relief rally to the 20-day EMA is likely to be sold into. If the Bitcoin Cash price turns down from the 20-day EMA, the possibility of a drop to the $443 level increases.

The first sign of strength will be a close above the moving averages. The BCH/USDT pair may then rise to $580 and subsequently to $600.

Related: Bitcoin price climbs 3% as gold divergence signals ‘significant upside’

Hyperliquid price prediction

Hyperliquid (HYPE) fell below the 50-day SMA ($28.10) on Monday, indicating that the bears are attempting to take charge. 

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HYPE/USDT daily chart. Source: Cointelegraph/TradingView

Buyers are striving to push the price back above the moving averages but are likely to face stiff resistance from the bears. If the Hyperliquid price turns down from the moving averages, the HYPE/USDT pair may drop to the solid support at $20.82.

Contrarily, if the price closes above the 20-day EMA ($29.31), it suggests buying at lower levels. The pair may then ascend to $32.50 and later to the stiff resistance at $36.77. The next trending move is expected to begin on a close above $36.77 or below $20.82.

Cardano price prediction

The bears failed to pull Cardano (ADA) to the support line of the descending channel pattern, indicating a lack of selling at lower levels.

ADA/USDT daily chart. Source: Cointelegraph/TradingView

The buyers are attempting to make a comeback by sustaining the Cardano price above the 20-day EMA ($0.28). If they manage to do that, the ADA/USDT pair might rally to the downtrend line. 

If the price turns down sharply from the downtrend line and breaks below the 20-day EMA, it suggests that the pair may remain inside the channel for a while. The bulls will have to secure a close above the downtrend line to gain the upper hand.

Monero price prediction

Monero (XMR) fell below the immediate support at $309 on Monday, but the bears could not sustain the lower levels.

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XMR/USDT daily chart. Source: Cointelegraph/TradingView

The bulls are attempting a relief rally, which is expected to face selling at the 20-day EMA ($346) and then at the breakdown level of $360. If the Monero price turns down from the overhead resistance, it suggests a range-bound action between $360 and $300 for some time.

The advantage will tilt in favor of the bulls if they push and maintain the XMR/USDT pair above the $360 level. If they do that, the pair may surge toward the 50-day SMA ($435).