Solana (SOL) is trading at $76.20 with a market cap of $44.41 billion, as analysts identify a potential accumulation zone between $60 and $40. Whale activity is rising, with one dormant wallet purchasing 47,535 SOL worth $3.6 million after a two-year pause, signaling renewed confidence in the network.
Solana’s (SOL) price structure points to an explosive move toward $1,000, according to analyst Crypto Patel. The proposed zone between $60 and $40 could become a key accumulation area for investors during market weakness.
The positive thesis includes ambitious price targets of $300, $500, and $1,000 for SOL. These goals depend on increased usage, liquidity, and favorable market conditions.
After a two-year absence from the market, a Solana whale has returned. Data from Lookonchain showed the wallet purchased 47,535 SOL valued at $3.6 million.
This whale originally accumulated 291,790 SOL during the 2023 downturn at an average price of $23.37. During SOL’s subsequent rally, it offloaded 191,789 SOL worth $24.62 million at an average cost of $128.36, realizing over $20 million in profits.
The most recent acquisition indicates optimism in the SOL network despite its latest dip. It is important to note that a single whale’s activity does not point to a trend reversal.
Solana’s price is now moving upward, supported by improved sentiment in the broader crypto market as Bitcoin has started to rise. The next steps for SOL will depend on how well the support levels hold and the strength of buying pressures. Further corrections, however, cannot be ruled out.
