Solana shows strength amid market stability, approaching critical resistance after weeks of volatility. Despite US-China trade tensions, on-chain data indicates a potential recovery rally.
Glassnode data reveals a 1.53% increase in wallets holding over 10,000 SOL in the past week, rising from 4,943 to 5,019. This accumulation suggests larger holders see current prices as favorable entry points.
Historically, such accumulation phases precede upward moves, especially with technical recovery signals. While a sustained recovery is uncertain, growing whale interest offers cautious optimism.
SOL lost over 65% of its value since January due to market downturn and macroeconomic tensions. Improving liquidity and a possible trade dispute resolution are reviving the altcoin market.
Analyst Ali Martinez shared data on X, noting the 1.53% increase in wallets holding over 10,000 SOL. This trend, combined with rising momentum, could signal a sentiment shift.
Improved global risk appetite and Solana holding key support zones could lead to a rebound. Whale behavior suggests growing confidence in Solana's long-term potential.