At the current highs, SOL began large movements between wallets. The#WhaleAlertservice records six large transactions in the last hour, totaling $1.179 billion (!). At the same time, there is also a large transfer from an unknown wallet to Coinbase - 1,696,285#SOLfor $345.466 million.
In the TOP 10 by capitalization,#SOLovertook#BNBand took fourth place. From $88.7 billion.
The price, apparently, is preparing for a reversal into a correction. And whoever reads us knows that the last time we wrote something like this was a long time ago. Consistently indicating the danger of shorting at all local highs in recent weeks, including $150 a week ago.
Will buyers have enough strength to update ATH $259.9 before the correction? We believe that no, BUT there are no reversal formations on the chart. Therefore, shorting is still dangerous. If we wanted to get rid of our #SOL, purchased at $23.05, we would think about it. But we dropped half of the +100% position at $46.1 in November 2023. And there were free coins left, which we will hold until the expected peak of the bullrun.
All that is known now regarding the prospects for correction is that last week institutions began to unload positions on #SOL. This is#Coinsharesdata. But for now this is a small relief, only -$2.7 million. The purchases were much larger.
We plotted volume levels from 150 and above to ATH, these are the targets in case of continued growth. Applied based on data from the past cycle, not current growth. And look how clearly the levels in the range of $150-200 act as support and resistance.
Goals/resistances at the top:
- $207.88,
- $214.05,
- $225.29,
- $238.71,
- $241.25.
Although we do not believe that without correction the growth will continue and be significant - as long as the price is above the local upward support since March 12 - the full implementation of all these goals is a priority.
ps: for fans of #Solana - if the ATH is updated and consolidates above $260, the next global Fibonacci target is $414 (level 1.618). While the price is above $133 (0.5 Fibonacci) - working out is a priority.
