Analysts Predict $400 Solana Price as Whales Buy into ‘Most Bullish Chart’
The post Analysts Predict $400 Solana Price as Whales Buy into ‘Most Bullish Chart’ appeared on BitcoinEthereumNews.com.
The crypto market enters the new week on a bullish note as the Bitcoin price inches closer to a $70,000 resistance breakout. The bullish momentum gradually fuels bullish momentum in most major altcoins, including SOL. However, crypto analysts showcase a higher interest in Solana price movement amid the formation of its ‘Most Bullish Chart’ setup and Whale accumulation. Currently, the SOL price trades at $177 with an intraday gain of 0.26%. Consecutively, the Solana market cap surged to $82.21 Billion, while 24-hour trading volume spiked 32% to reach $2.82B. Analysts Eye $400 Solana Price as Whales Accumulate on ‘Most Bullish Chart’ In a recent tweet, market analyst CryptoBoss shares an optimistic view on Solana (SOL), highlighting what he describes as the “most bullish chart I’ve ever seen. His monthly chart analysis shows a well-known reversal pattern called Cup and Handle, often identified at major market bottoms as a precursor to significant upward movements. Theoretically, this chart setup shows a U-shaped accumulation trend represented by a Cup, followed by a short consolidation with a handle portion before a major breakout. If the pattern holds true, the Solana price prediction is poised to breach the overhead resistance trendline, setting up a rally to the $400 mark. SOL Monthly CryptoBoss Major Holders Stake $35M in Anticipation of Breakout Ahead of the major breakout, SOL’s on-chain data shows renewed activity from crypto whales. According to data from Lookonchain, a whale wallet identified as AA21…VxH9 withdrew 153,511 SOL, valued at approximately $26.4 million, from Binance over the past week and promptly staked the tokens. Similarly, a wallet EHax…gAUa withdrew 35,498 SOL, valued at $6.12 million, from top crypto exchanges Binance and Kraken in the last 4 days and quickly staked it. Another whale wallet, EGzi…mR7g, accumulated 13,000.8 SOL (valued around $2.3M) from Binance yesterday, bringing…
Filed under: News - @ October 28, 2024 2:25 pm