Solana (SOL) is trading at $94.18, with a market cap of $54.6 billion and daily volume of $5.84 billion. On-chain analysis reveals strong token accumulation between $82.60 and $85.55, where 76 million SOL changed hands, potentially setting a demand floor. While the token approaches the key $100 level, rising exchange inflows and a high NVT ratio signal potential caution among traders.
Solana is showing continued upward momentum, trading at $94.18 with a daily volume of $5.84 billion. Its market capitalization currently stands at $54.60 billion.
A recent analysis by Ali Martinez shows the price structure has changed following prolonged consolidation. On-chain data indicates significant accumulation between $85.55 and $82.60, where approximately 76 million SOL tokens were transacted.
This 38-day accumulation phase has effectively exhausted sell-side liquidity. Market control has gradually shifted toward buyers, strengthening the support structure.
Solana is now nearing the significant $100 psychological level. If buying pressure is sustained, the next key liquidity level is around $115.
Despite bullish price action, underlying metrics indicate emerging risks. The NVT ratio is rising, signaling a divergence between price growth and transaction activity.
Additional pressure comes from increasing exchange inflows, suggesting traders may be preparing to sell. The price remains range-bound between $87 and $96, with weak volume limiting bullish confirmation.
