Solana Adds 10 Million New Holders, Can SOL Price Squeeze A Rally Out Of Them?
Despite price pressure, Solana is adding 10.2 million new daily addresses, signaling adoption, though recent ETF outflows suggest caution.Summary
Solana's price remains under pressure despite brief sentiment boosts, reflecting broader market caution. Network activity shows significant growth, with Solana adding about 10.2 million new addresses daily, which historically precedes price recoveries by absorbing short-term selling supply.
However, macro momentum is mixed as Spot Solana ETF flows recently turned negative, recording outflows for the first time in nearly two weeks, suggesting emerging skepticism among investors and potentially limiting upside momentum.
Currently trading near $115, SOL is holding above support within a descending broadening wedge, a generally bullish pattern. A breakout confirmation requires clearing the $123 resistance level, targeting $132 and $136; failure to break out could lead to consolidation or a drop toward $110 support.
(Source：BeInCrypto)