The post Whale Buying Spikes as Solana Hits $200: Will SOL Rally to $257? appeared on BitcoinEthereumNews.com.

As the crypto market continues to recover for the second consecutive day, the bullish attention over Solana is increasing. As the SOL price trend continues above the $200 psychological mark, the recovery run is shaping up to a potential bullish rally. With the technical indicators and whale activity hinting at a recovery run, will SOL price trend rise back to $257? Solana Price Analysis Targets V-shaped Reversal In the daily chart, the SOL price trend ends the three consecutive bearish days near the 200-day EMA line. Along with the dynamic support, a short-term local trendline helps in the bullish comeback. Solana Price Chart With a Morning Star pattern forming near the $190 support, SOL price trend is making its fifth consecutive bullish candle. This hints at a V-shaped recovery in the SOL price trend as it exceeds above the $200 mark. Currently, Solana trades at a market value of $204.83 with an intraday recovery of 2.14%. Amid the recovery trend, the MACD indicator is on the verge of signaling a trend reversal. This is because of the drop in bearish histograms and the increased chances of a bullish crossover in the MACD and signal lines. Whale Activity: Rising Bets on Solana Amid the possibility of a bullish reversal gaining momentum, the dominant whales are coming back for SOL. In a recent tweet from SpotOnChain, a whale, GJWCU, has come after a year of dominance. With its return to the crypto market, the whale has purchased 30,901 SOL tokens from Binance worth $6.24 million. Prior to the current bullish take on SOL, the whale has completed another positive trade to make a profit of $8.15 million, accounting for a return of nearly 22%. Furthermore, a different whale has resurfaced to withdraw 61,319 SOL tokens worth $12.4 million. The whale took the…

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Filed under: News - @ February 11, 2025 9:25 am