Key Takeaways
Why is Solana’s outlook bullish now?
A double TD Sequential buy signal, $50M in whale accumulation, and strong buyer dominance point to a potential rally.
What price levels should traders watch?
Support at $200 is critical, with upside targets set at $248 and $296 if buying pressure holds.
Solana [SOL] has ignited market excitement after printing a double buy signal on the TD Sequential indicator, a pattern often linked with potential bullish reversals.
At the same time, whale activity has increased, with over $50 million worth of SOL shifting from Coinbase Institutional into a new wallet.
This blend of technical and on-chain strength reinforces investor confidence, suggesting that deep-pocketed participants see current levels as an accumulation zone.
Can Solana hold its ground?
Price action on the daily chart showed Solana maintaining strength along its ascending support near $200, with buyers defending the structure each time it was tested.
The broader setup highlighted resilience, as dips toward this region have consistently attracted renewed demand, preventing deeper breakdowns.
Meanwhile, upside projections pointed toward resistance around $248 and later $296, levels that could act as checkpoints for momentum.
Importantly, this trendline and these key zones act as references for both traders and investors, underscoring market confidence in Solana’s current bullish trajectory.
Source: TradingView
Clear signs of buyer dominance
On-chain metrics provided further reinforcement, with the 90-day cumulative volume delta reflecting dominant taker buy activity across major exchanges.
This indicator highlighted that aggressive buyers have consistently absorbed sell pressure, creating an environment where upward momentum builds steadily.
Market participants often view CVD dominance as a precursor to sustained rallies, particularly when it coincides with whale inflows and technical setups.
In Solana’s case, the alignment of buying strength with broader chart resilience paints a favorable picture.
Moreover, it demonstrates that demand remains structurally intact despite recent volatility in trading sessions.
Strong trader confidence
Perpetual Futures data from Binance revealed a notable skew at press time, with long accounts climbing above 75% compared to less than 25% short positioning.
The ratio of 3.01 signaled a firm tilt toward bullish speculation, reinforcing the view that traders expected further upside.
This level of confidence in leveraged markets often amplifies volatility, but it also reflects conviction in continuation trends.
Importantly, such imbalances can act as a double-edged sword, as sudden reversals may trigger liquidations.
Still, the dominance of longs suggests sentiment favored strength, aligning with signals from both on-chain activity and price action.
Will Solana see another rally?
The convergence of a double TD Sequential signal, aggressive whale accumulation, strong buyer activity, and bullish derivatives positioning provides a compelling case for optimism.
Each factor individually strengthens the outlook, but their alignment magnifies the potential for continuation. As long as support holds and buyers remain active, Solana appears primed for further gains.
