A Healthy Consolidation Preparing the Next Bullish Wave
Although Solana has recently experienced a pause in its price action, on-chain data reveals that buyer appetite remains strong. Meanwhile, crypto community engagement around SOL continues to increase, indicating heightened interest in the ecosystem.
According to Glassnode analysts, the number of unique addresses participating in SOL transactions for the first time has jumped by 16% over the past 7 days. This wave of newcomers demonstrates growing demand for the token, despite moderate volatility recently.
Additionally, Solana’s social dominance has climbed during this period, reaching 4.26%. This indicator measures how frequently the asset is mentioned on social networks and media relative to the entire crypto market. Its increase reflects renewed attention and investor engagement with SOL.
Ambitious Price Targets for Solana
Currently, Solana is trading at $245. If buying momentum strengthens, the token could target resistance at $248.50, then soar toward $270.
However, declining demand and massive selling could also drive SOL down to $222.
Nevertheless, all indicators point toward resistance levels at $254 and $266 in the coming days. This consolidation is also explained by its presence in the last strong liquidity zone, according to the VPFR.
How to Profit from Solana’s Rise ?
In summary, the technical and social signals surrounding Solana seem to indicate that the token is set to resume an upward trend.
Here’s how to buy SOL on Zoomex :
- Registration : Create an account on Zoomex using an email address and complete KYC verification to access all features.
- Fund Deposit : Fund your account via credit card, bank transfer, or cryptocurrency transfers such as USDT or BTC.
- SOL/USDT Pair : Go to the Spot section, search for the SOL/USDT pair, and check the order book to evaluate liquidity.
- Purchase Order :
- Market Order : Buy immediately at the current price (~$245).
- Limit Order : Place an order near the support at $222 for an optimal entry point in case of a temporary correction.
Investment Strategy and Profit-Taking Zones
- Recommended Entry Point :
- Buy at Support : Enter near $222, a key liquidity level (supported by VPFR) where buyers have shown resilience.
- Buy After Breakout : If SOL exceeds $248.50 with high volume, buy to capitalize on bullish momentum.
- Profit-Taking Zones :
- Short-term : $254 (+3.7%). Realistic target after breaking resistance; sell 30-40% of your position.
- Medium-term : $270 (+10.2%). If DeFi/NFT adoption and community momentum intensify, take 30-40% profits.
- Long-term : $300 (+22.4%). Reserve this target for a broader bullish scenario (e.g., approval of a Solana ETF); hold 20-30%.
- Stop-loss : Place a stop-loss below $215 (-12.2% from support) to limit losses in case of an unexpected correction.
