Solana Price Near $90, but Long-Term Buyers Are Still Accumulating
Despite recent sell-offs, on-chain metrics suggest Solana is entering a basing phase as long-term buyers continue accumulation near $90.Summary
Solana's price is near $90, forming a descending wedge pattern similar to one preceding a major rally in the prior cycle. On-chain data supports a potential basing phase, as the Market Value to Realized Value (MVRV) ratio is at 0.65, signaling undervaluation not seen since September 2023, which historically precedes stabilization. Holder behavior shows resilience, with investors accumulating about 5 million SOL since December 2025, indicating sustained conviction despite weakness. Technically, SOL is approaching a critical decision zone within the wedge; a bounce and reclaim of $104 could confirm bullish continuation toward a projected $156 target. However, a decisive break below $83 would invalidate this outlook, exposing lower support levels.
(Source：BeInCrypto)