Solana (SOL) has maintained its stability despite concerns over a $95 million inflow to Coinbase, which initially raised fears of short-term selling pressure. Technical indicators, including the DMI, ADX, and Parabolic SAR, suggest a weakening of bearish momentum. On-chain data supports this outlook, with Network Growth rebounding to 1 million new addresses and Social Dominance increasing to 5.5%, indicating long-term strength.
Despite the significant whale transfer, Solana continues to trade within an ascending price channel, with support at $206.46 and resistance near $258.49. The presence of Spot Taker Buy Dominance and accumulation at support levels further underscores buyer confidence in the cryptocurrency's resilience.
Solana Maintains Stability Despite $95M SOL Inflow to Coinbase
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