Solana is showing renewed strength after weeks of uneven trading, and analysts say several early indicators now suggest a potential trend shift. The recent stabilization near the lower boundary of its long-term range has encouraged traders who have watched the asset test the same zone multiple times this year. Besides the steady price behavior, market data reveals that institutional exposure is expanding again after a brief slowdown.
Treasury Flows Strengthen as Whales Increase Staked Holdings
TedPillows, a market analyst, reports early recovery signs among major Solana treasury accounts. He notes improving inflows into key investment products linked to the asset. The strongest signal comes from the Bitwise Solana ETF, which has recorded more than $527.9 million in inflows since November 10.
This trend suggests increasing institutional appetite during recent market weakness. However, analysts still expect stronger accumulation before calling a full trend reversal.
Additionally, whale movements offer another important trend. Lookonchain data shows a large holder withdrawing 49,000 SOL from OKX before adding those tokens to a staking position.
The same address now holds more than 761,000 staked SOL after the latest move. This stake is valued near $109 million at current market prices. Hence, long-term conviction among major holders appears firm despite short-term volatility across the broader market.
Solana trades near $142 as of press time after a mild daily decline. However, the token still gained over 7% during the past week. The circulating supply stands near 560 million SOL, placing the market value at roughly $79.6 billion.
Bull Flag Structure Forms on Monthly Chart
Source: X
Bitcoinsensus highlights a developing bull flag on Solana’s monthly chart. The setup formed after a strong rally from late 2023 into early 2024. Solana has since consolidated between $120 and $210 for more than a year.
This compression indicates controlled cooling inside a defined range. Market analysts often interpret this structure as a continuation pattern that prepares the asset for the next expansion phase.
Moreover, Solana trades close to the lower boundary of this range near $140. Buyers have protected this region several times, creating an important demand level. A decisive move above $210 could confirm the flag and open a path toward a higher target. Technical projections stretch toward $1,500, using the length of the previous rally as a guide.
Source: https://coinpaper.com/12716/solana-whale-stakes-109-m-in-sol-as-bitwise-solana-etf-inflows-hit-528-m
