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Following
SOL SOL broke through the two-year downward trend, with whales increasing their holdings by 28.5 million coins
Solana (SOL) recorded the monthly green K-line for the first time in the past 10 months, while the monthly RSI broke through the two-year downward trend. Potential monthly MACD bullish cross signals further enhanced market momentum, while the whale HURDw accumulated a cumulative 285,503 SOL units.
SOL currently faces a key resistance level of US$105 to US$107. If a continuous breakthrough is achieved, it is expected to open up room for US$109 to US$111; while the US$102 to US$103 range constitutes the main support area.
Monthly technical signals have improved
Analyst Ash Crypto pointed out that Solana has seen three important monthly technical changes: first, it has ended its 10-month downward cycle and closed its first monthly positive line; secondly, the monthly MACD is about to form a bullish cross; and finally, the monthly RSI has broken a two-year downward trend. These positive technical shifts have sparked discussions in the market about the possibility of a major bullish reversal.
Despite the positive technical aspects, SOL is still operating within the fluctuation range in the near future. Spot flow data showed that from August 28 to September 9, prices fluctuated mainly between $98 and $110. SOL hit a high of $109 to $110 on August 28, and then fell back to around $102. Although it briefly rebounded above US$105 during this period, it once again dropped to the US$98 to US$99 range around September 2.
Giant whale buying intensifies market activity
According to Lookonchain, the giant whale HURDw has purchased a total of 285,503 SOL units through the Hyperliquid platform in the past three weeks, with a total value of approximately US$28.82 million. During the same period, the net spot flow data showed uneven characteristics.
Data shows that the green histogram represents strong capital inflows, while the red histogram represents dominant outflows. There was a single peak inflow of nearly $25 million on September 3. In addition, the scale of multiple outflow incidents was approximately US$15 million, and another wave of positive capital flow clusters appeared around September 6, including multiple independent inflow records exceeding US$10 million. During this period, SOL prices once rebounded to US$105 to US$107, and then retreated slightly to the US$104 to US$105 range.
SOL faces resistance test of US$105 to US$107
The latest flow data shows that the market environment is stabilizing and mixed. SOL is currently trading at around $104 to $105. The main technical keys are support at $102 to $103 and resistance at $105 to $107.
If SOL can effectively break through the $107 resistance with controlled capital inflows, it will open the channel to the $109-$111 area. On the other hand, if there is a large inflow of funds and a rejection below $105, it may retest $102 or even go down to the $99-$100 range.
It is worth noting that large inflows increase SOL supply in the spot market; however, sustained significant outflows may reduce the supply available for immediate selling in the market, thus supporting prices.
