Solana Price Eyes Bounce as Short-Term Wallets Surge
The post Solana Price Eyes Bounce as Short-Term Wallets Surge appeared on BitcoinEthereumNews.com. Solana price recently surged past the $200 mark but has since corrected. It now trades around $185, down over 6% day-on-day. Much like Solana-based meme coins, Solana’s core token also appears to be in a short-term cooldown phase. But is this just a healthy dip before a bounce? Or are deeper losses brewing? On-chain activity and key technical zones tell a story of a strong support cluster just below, hinting that a reversal might not be far off. New Wallets Are Still Showing Up Despite the dip, short-term holders are not bailing; they’re entering. The 3-month HODL Waves chart shows a spike in the “1 day to 1 week” wallet band, suggesting that new buyers are accumulating Solana. Both key short-term HODL bands have increased during the recent dip: 1-day to 1-week wallets jumped from 6.67% to 8.67%, a 30% increase 1-week to 1-month wallets rose from 8.73% to 9.3%, about a 6.5% increase For token TA and market updates: Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here. Solana price and HODL waves: Glassnode This spike is important because it mirrors a previous trend from May, when Solana saw a price dip followed by an increase in this same short-term wallet band. Back then, the dip eventually reversed. A similar rise now hints at growing buyer conviction, even as price cools. In short, wallets holding Solana for less than a week are increasing, not exiting. That’s typically a bullish sign during corrections. HODL Waves measure the distribution of coins by age of holding. A rise in younger bands means new buyers are entering the market. Support Cluster: $175 to $180 Zone Remains Intact The next thing to watch is whether Solana holds its current support levels. The Cost Basis Heatmap shows a dense…
The post Solana Price Eyes Bounce as Short-Term Wallets Surge appeared on BitcoinEthereumNews.com.
Solana price recently surged past the $200 mark but has since corrected. It now trades around $185, down over 6% day-on-day. Much like Solana-based meme coins, Solana’s core token also appears to be in a short-term cooldown phase. But is this just a healthy dip before a bounce? Or are deeper losses brewing? On-chain activity and key technical zones tell a story of a strong support cluster just below, hinting that a reversal might not be far off. New Wallets Are Still Showing Up Despite the dip, short-term holders are not bailing; they’re entering. The 3-month HODL Waves chart shows a spike in the “1 day to 1 week” wallet band, suggesting that new buyers are accumulating Solana. Both key short-term HODL bands have increased during the recent dip: 1-day to 1-week wallets jumped from 6.67% to 8.67%, a 30% increase 1-week to 1-month wallets rose from 8.73% to 9.3%, about a 6.5% increase For token TA and market updates: Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here. Solana price and HODL waves: Glassnode This spike is important because it mirrors a previous trend from May, when Solana saw a price dip followed by an increase in this same short-term wallet band. Back then, the dip eventually reversed. A similar rise now hints at growing buyer conviction, even as price cools. In short, wallets holding Solana for less than a week are increasing, not exiting. That’s typically a bullish sign during corrections. HODL Waves measure the distribution of coins by age of holding. A rise in younger bands means new buyers are entering the market. Support Cluster: $175 to $180 Zone Remains Intact The next thing to watch is whether Solana holds its current support levels. The Cost Basis Heatmap shows a dense…
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