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SOL Core Highlights
Major holders continue to increase their holdings of tokens
Gold cross pattern suggests potential rise to US$150
Solana price analysis: Monthly close hits first positive income in ten months
Solana (SOL) recorded its first positive monthly close in the past 10 months after rebounding from the US$60 range. The monthly Relative Strength Index (RSI) has broken through a two-year downtrend line; the Moving Average Convergence and Divergence Indicator (MACD) is about to enter the bullish cross zone.
According to online data, large holders spent three weeks buying a total of 285,503 SOL tokens on the Hyperliquid platform, with a total value of approximately US$28.82 million. The "golden cross" pattern on the daily chart is based on historical patterns and suggests that SOL may rebound towards $150.
At the same time, Solana's real-world asset (RWA) ecosystem valuation hit a record high of $4.35 billion and accounted for 67% of the volume dominance of memin transactions.
Technical signal: bullish momentum appears
Solana (SOL) is currently trading at around $102, down 3% in the past 24 hours. However, in the past month, the token has performed strongly, gaining 34.8%. Today's trading activity kept prices between $102.28 and $105.20.
The second technical indicator involves the monthly MACD, which is moving towards a bullish cross pattern. This intersection has not yet been confirmed. The third signal comes from the monthly RSI, which has successfully broken through the downtrend line that has lasted for about two years.
Market analyst Ash Crypto shared his views on platform X and said: "$SOL currently shows one of the most long positions in cryptocurrencies. It ended its first green monthly K-line in 10 months. The monthly MACD is about to undergo a bullish cross. The monthly RSI broke a two-year downward trend. Is SOL initiating a major bullish reversal?" Although analysts highlighted the shift in momentum, they did not announce that the reversal had been confirmed.
Giant Whale Position Dynamics: Large-value Increase Strategy
Blockchain tracking data shows that Giant Whale Wallet HURDw has performed multiple SOL purchase operations through Hyperunit's hot wallet, spanning as long as three weeks. The cumulative total acquisition amount is 285,503 SOL tokens, valued at approximately US$28.82 million. The largest single transaction involved 49,732 SOLs worth approximately US$5.07 million.
This accumulation strategy was accomplished through numerous independent transactions rather than a single bulk purchase, and occurred just as the SOL price rebounded from a bottom near $60.
Gold cross pattern suggests potential of $150
Cryptocurrency analyst 0xSweep pointed out that a new "gold cross" pattern has formed on Solana's daily chart. This bullish technical pattern occurs when the short-term moving average crosses the long-term moving average upwards.
0xSweep compared the previous gold crossover with the current pattern. After the last time a similar pattern emerged, SOL rose about 56.22% in seven weeks and hit a price level of $250. If the same percentage increase is extrapolated from current price levels, the target price could exceed $150 by the end of October. It should be emphasized that this is only a comparison based on historical data and not a guaranteed price forecast.
Ecosystem data: RWA and transaction volume hit record highs
Solana's real-world asset (RWA) ecosystem has achieved a record high of US$4.35 billion in total market value and currently supports more than 420,000 RWA token holders on the network. On September 7, among the monitored blockchains, Solana accounted for 67% of the cash decentralized exchange's Moecoin trading volume, almost three times Robinhood's 23% market share.
