Solana's price stability around $200 is bolstered by significant investor accumulation, with 3.79 million SOL moving off exchanges since the start of the month. This shift indicates a strong long-term holding sentiment among investors. Over the past week, $770 million worth of SOL has been acquired, reflecting a robust bullish outlook.
The Relative Strength Index (RSI) for Solana remains above 50, further supporting the positive momentum. Currently priced at $203, Solana faces resistance at $206, with potential targets at $214 and $221 if this level is breached. However, a failure to maintain support at $195 could result in a pullback to $189.
Solana Sees $770M Accumulation as Bullish Signals Strengthen
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