Solana Price Faces a 20% Test That Could Make or Break Its Next Big Rally
The post Solana Price Faces a 20% Test That Could Make or Break Its Next Big Rally appeared com. Key Insights Solana price is up 6%, trading near $167, but needs to reach $202 to confirm a breakout. Short-term holders are selling early, while whales move coins to exchanges. Indicators show rising energy, but no strong buying signal yet. Solana price has climbed about 6% in the last 24 hours, trading near $167. That sounds bullish, but not fully. The next big move begins only if Solana gains 20% more to reach $202, a level that has stopped rallies before. This $202 mark is not just another price. It’s the wall that has rejected Solana several times in the past. Crossing it could open the path for a bigger rally, but failing again might pull the price back. The question now is, who’s ready to buy enough to push it there? At present, not many. Solana Short-Term Holders Exit Amid Heavy Selling To understand the slowdown, we need to see what holders are doing. Short-term traders, those who held Solana for one week to one month, have started selling early. Their supply share has dropped from 14% to 11%, showing that many are taking profits instead of waiting for more gains. This move is represented by the HODL Waves metric, which tracks cohort-based token holdings. When coins flow into exchanges, it usually means SOL sellers are preparing to dump, not investors buying to hold. Selling Pressure Affecting Solana Price: Glassnode This means large holders may be getting ready to sell if the price climbs a bit more. This pattern is a well-known Solana price roadblock. Every time the price manages to move up, selling pressure surfaces. So, even though Solana is rising, some of the biggest players.
