Key Takeaways
Are they any near-term price targets for Solana?
If Solana’s price is able to breach its immediate resistance level, hitting $300 may be in the offing.
What do metrics say about investors’ behaviour in Solana’s market?
At the time of writing, investors were increasingly in favour of holding, rather than selling.
Since early September, Solana’s [SOL] exchange reserves have continued to decline sharply, signaling strong accumulation behavior among long-term holders. At the time of writing, on-chain data seemed to highlight consistent withdrawals, with the latest figures recording over $72 million in a single day.
Such persistent movement of tokens off exchanges reduces immediate liquidity and limits potential sell pressure. Consequently, market participants may now be interpreting this as a sign of increasing conviction in Solana’s mid-term outlook.
That’s not all though as such steep declines in reserves historically align with price strength. What this implies is that the ongoing market phase is critical for SOL’s performance in the next few weeks.
Rounded bottom structure points to $300-target if resistance breaks
Solana’s price chart highlighted a rounded bottom structure – A bullish reversal pattern often observed during extended accumulation. At press time, the altcoin’s price seemed to be trading near $236, holding comfortably above the $220-support.
The next key resistance level will be at $262 – A decisive level that could determine whether SOL achieves a breakout.
Directional momentum indicators seemed to be flashing signs of renewed strength too, with the positive DMI edging higher.
Such an alignment of structure and momentum alludes to a favorable setup. However, SOL must secure a clean breakout beyond the resistance before any attempt to approach the $300-target becomes realistic.
Source: TradingView
Are spot flows revealing the hidden strength behind Solana’s rally?
Solana’s spot flows have been seeing strong outflows, with the most recent data on 15 September recording a net outflow of $72.40 million. This sharp withdrawal followed a series of frequent red prints across the chart, reflecting consistent movement of tokens away from exchanges.
Such outflows indicate that investors prefer to hold rather than sell, reducing available liquidity on trading platforms. Historically, sustained outflows of this magnitude often precede bullish momentum.
However, if inflows begin to dominate, the prevailing narrative of accumulation could shift and weaken Solana’s prospects.
Spot taker CVD moves to neutral after heavy sell-side dominance
Cumulative Volume Delta data revealed that Solana has shifted from an extended phase of sell-side dominance into a more neutral position. Although buyers have not yet seized full control, the reduction of aggressive selling may be noteworthy.
Such neutrality acts as a pivot zone where balance between buyers and sellers creates conditions for upcoming directional moves.
Moreover, this easing of downward pressure seemed to be in line with broader on-chain metrics hinting at accumulation.
If buy-side activity strengthens from this neutral base, Solana could gain the momentum needed to confirm a breakout rally.
Is Solana preparing for a breakout towards $300?
The alignment of exchange reserve declines, persistent outflows, bullish technical structure, and neutralized CVD signals provides a constructive case for Solana.
With liquidity tightening and selling pressure easing, the stage is being set for a decisive test of resistance.
If Solana clears the $262-barrier convincingly, the path towards $300 becomes achievable. However, failure to maintain accumulation trends or renewed inflows could challenge the bullish outlook.
For now, Solana appears well-positioned, and market participants should watch closely for the next breakout confirmation.
