Solana price: Analysts reveal why SOL may start a bullish reversal

Core Insights

Top analysts pointed out that Solana (SOL) prices closed above the monthly positive for the first time in the past 10 months. The monthly RSI indicator broke through a two-year downward trend, while the MACD indicator is approaching an unconfirmed bullish crossing. In addition, the giant whale purchased 285,503 SOLs worth US$28.82 million through the Hyperliquid platform within three weeks.

After a 3% decline in 24 hours, Solana prices were trading around $102.08. At the same time, analysts are tracking multiple technologies and on-chain signals. In the past 30 days, SOL has increased by 34.8%, with a weekly increase of 0.8%, and a 4.5% increase on the 14th.

Against this backdrop, analyst Ash Crypto pointed to three monthly signals that could signal early bullish reversals. In addition, giant whale activity and the new daily-level "golden fork" constitute two other important developments surrounding SOL prices.

Market data shows that Solana's 24-hour trading range is between $102.28 and $105.20. At the same time, the $100 area has become a key support level in the near term. If we can regain our footing above US$105, it will strengthen the short-term market pattern. Please note that the price targets and levels discussed in this article are based on technical analysis and are not guarantees of future market performance. This content is for information reference only and should not be regarded as financial advice. Given the high volatility of the cryptocurrency market, readers should remain prudent and diligent when formulating investment plans or seek advice from qualified financial professionals.

Solana (SOL) prices show three monthly signals

Ash Crypto's analysis focuses on Solana's monthly charts after a long decline from highs above $200. The first signal came from the latest monthly K-line: SOL rebounded from about $60 and recorded its first monthly positive line in about 10 months. This rebound brought Solana prices back into the $100 zone.

Ash Crypto recognizes the monthly MACD setting as the second signal. The indicator is approaching a bullish crossing, although this crossing has not yet been finalized. The third signal comes from the monthly RSI. According to Ash Crypto analysis, the RSI broke through the downtrend line that lasted for about two years. The change marks a change in the momentum structure tracked in analyst charts.

However, the broader Solana price structure still needs to be confirmed. SOL had previously traded above $200 before falling to the $60 area. If we can hold the US$60 to US$80 range, we will maintain the recovery structure shown in the chart. If prices continue to exceed US$100 to US$120, it will strengthen the bullish reversal pattern proposed by Ash Crypto.

Giant whales increased their holdings of 285,503 SOL units within three weeks

In addition to technical settings, the on-chain record shows that the address HURDw purchased SOL multiple times. These transfers come from Hyperunit's hot wallet and are completed within days. The total visible transaction value is approximately 217,000 SOL units worth approximately US$22.4 million.

It is worth noting that the largest visible transfer involved 49,732 SOLs worth approximately US$5.07 million. Another transfer moved 25,230 SOLs with a valuation of nearly $2.63 million. In addition, 24,988 SOL pieces were transferred with a recorded value of approximately US$2.59 million. Records also show that 21,938 SOL pieces worth approximately US$2.34 million were also transferred to the same address. Smaller batches of transactions occurred during this period. Therefore, it can be seen that the activity is completed through multiple transfers rather than a single transaction.

According to relevant data, HURDw purchased 285,503 SOL units in three weeks, with a total value of approximately US$28.82 million. The purchases occurred as Solana prices recovered to around $100 from previous declines.

Solana price "golden fork" sets its sights on US$150

Meanwhile, analyst 0xSweep points to another independent development on the Solana daily chart. The chart shows that a new "golden cross" has been formed after SOL rebounded from the $60 to $80 region. This intersection occurs when the short-term moving average crosses the long-term trend line.

0xSweep compared the latest crossover to a previously visible gold cross on the same chart. After this previous signal, SOL rose by approximately 56.22%. The increase increased by approximately $91.20, bringing Solana to the $250 region. Using the same percentage comparison, the latest setting predicts an increase of approximately 56.14%. This is equivalent to an increase of approximately $54.49 from the chart reference level. In the 0xSweep scenario, SOL prices could exceed $150 before the end of October.

It is worth noting that the $150 level comes from analyst historical comparisons rather than a confirmed Solana price target. SOL is currently trading close to $102, with nearby resistance around $105. The broader chart also places the $100 to $120 region between current levels and expected increases.