Solana Price won around 37% last month. However, under the assembly, warning signs are beginning to appear.
While the main holder groups are quietly reducing supply, chart signals suggest that movements may not be as solid as they appear. Whether Solana pushes past resistance or slips into correction depends on the balance at several important levels.
Holders benefit during construction of hidden sales pressure
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One way to track sales or retention behavior is to use HODL waves. This shows how much supply is held by different age groups in your wallet. If the percentage of coins held by a group drops, it usually means that the group is selling.
In the case of Solana, almost all important groups have trimmed their holdings over the past month. The 1-3 month cohort fell from 13.93% of the supply on August 18 to 12.65%. The 3-6 month group went from 12.92% to 12.03%. Even long-term 1-2 year holders fell from 22.51% to 21.20%.
After a 37% meeting, the sale is no surprise.
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But what’s unusual is that there are high NUPL, or net unrealized profits and losses. Nupl tracks the number of wallets sitting on paper profits. When it’s high, it means that many holders are still profiting and can still benefit.
On September 12th, when NUPL reached a three-month peak of 0.37, Solana prices were revised by more than 3%.
This will also return to July 22nd when Nupl reached 0.33. That peaked at Solana’s price fell 22.9%, falling 22.9% from $205 to $158.
Currently, Nupl is near 0.36, close to those same danger levels.
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Together, these signals suggest that different groups of holders are already on sale, but there is still a lot of profit left in the system. If sales pressure is taken up again, weaker hands may quickly cash out.
Determine whether key level Solana Price Rally will be extended or modified
On the daily chart, Solana’s breakouts from rising channels still point to targets near $284. However, the instant test is $249. Daily closures that outweigh this resistance will continue to control the bull.
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The big risk comes from the two-day chart. Here Solana trades within the rising wedge. This is a setup that often suggests a fix.
At the same time, the relative strength index (RSI) shows momentum fading – the price increased the highs, while the RSI achieved a lower high. This “bearish emancipation” is often an early indication that the assembly is running out of steam.
If Solana Price exceeds $249 at the end of the two-day period, your bearish setup could be disabled.
But if it fails, the price can drift over the range and face $227 pressure. Below the deeper break, Solana could go down to $202, which could be even lower.
