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Note that the price of Solana has been confined in a range for about four weeks, trading in a narrow horizontal structure. The altcoin has tested support and resistance several times without establishing a decisive trend.
This prolonged consolidation has reduced volatility and put investor behavior at the center of potential future relief.
Market conditions now point to a two-way scenario. High demand could trigger a strong upward move, while weak sentiment could push Seoul toward lower support levels.
Solana holders should keep their coins
The chain’s data shows that the new Solana titles are starting to rise. The increase in network uptake has indicated a renewed interest in this ecosystem, as new participants typically bring additional liquidity that can support price stability and discovery attempts.
In the last 12 days, the number of new addresses every day has increased from 1.4 million, to 8.6 million. This expansion indicates improved engagement across the network. The increase in activity strengthens Solana’s foundation and could support future price appreciation if it continues.
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A measure of the net change in holding positions shows continued resistance among long-term holders. Although the rate of accumulation has slowed down, the overall trend still reflects a net positive situation. The long-term conviction remains intact despite short-term fluctuations.
However, it was observed that the buying momentum moderated. Where continued retention helped them survive The price of Solana is consolidated Instead of a sharp drop. If long holders switch from accumulation to distribution, downward pressure could quickly build and disrupt the current balance.
The price of the SOL is just around the corner
Solana Coin is trading at $85 at the time of writing, in a range between $77 and $88. Several attempts to penetrate failed, which confirms the strength of these boundaries. A decisive move beyond any level is likely to determine the short-term trend.
Bollinger bands are converging, indicating a contraction in volatility. This compression is often preceded by a significant expansion of the price. If the bullish momentum corresponds to the volatility takeoff, Solana Coin could break $88 and aim to reach $97. A sustained movement above $97 will take Solana above $100, bringing more optimism.
Failure to attract sufficient buying pressure may result in a continued move within the current range. If long-term Solana holders reduce their exposure, Solana may return to test the $77 support. A drop below that level exposes $67 as the next key level, invalidating the bullish thesis and strengthening the negative outlook.
