Solana (Sol) has been struggling to break the $200 mark recently and failed to violate this resistance last week.
Despite the set-off, changes in investor behavior are characterized by an increase in the cohort of mature holdings and long-term holders (LTHS) and may provide the necessary support for recovery and future benefits.
Solana Investors are Mature
Over the past 24 hours, Solana’s supply, which has been dormant for six to 12 months, has skyrocketed at SOLs of over $5 million and over $905 million. This increase in supply indicates that a significant portion of token holdings is mature and is moving towards long-term investments.
The maturation of these tokens could indicate confidence in Solana’s long-term outlook. As investors hold longer, this could reduce circulating supply and lead to upward price pressure.
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Solana’s overall macro momentum shows signs of tension as the Chaikin Money Flow (CMF) indicator is currently declining. The CMF tracking capital inflows and outflows is sitting under the zero line, suggesting that the outflow is overtaking the inflow.
As the spill continues to increase, sales pressures will increase, affecting Solana prices in the short term. The growing presence of investor skepticism and the lack of significant purchasing pressure may limit Sol’s ability to break through critical levels of resistance.
Sol Price may bounce back
At the time of writing, Solana priced at $180, which is $175 above the support level. Given the ongoing behaviour of investors, it seems unlikely for a significant decline so far. Prices are well supported by the influx of mature holdings and steady investor interest.
If long-term holders remain resilient and resist the impulse to sell, Solana can regain a support level of $189. Holding this level properly will allow Altcoin to approach $201 resistance. This is the level that has not broken twice in the past month. This could mark a potential turning point for Solana.
However, if sales pressure rises and the price falls below $175, Solana could slip to $163. Such a move will override bullish papers, widen recent decline, and place more negative side risks on cryptocurrencies. The results rely heavily on investors’ sentiment and broader market conditions.
This post can allow $900 million sol maturation in 24 hours Will Solana be back to $200? It first appeared in Beincrypto.
