Solana (SOL) Reversal Odds: Whale Activity and Network Strength Align

Solana's whale concentration and network value hint at a potential bullish reversal.

Key Metrics:

1. Whale concentration: 60% of total supply held by wallets with over $5 million.
2. Total Value Locked (TVL): $6.014 billion, 3rd largest chain by TVL.
3. Market share: 6.89% of cross-chain market share.
4. Technical support: $163 level crucial for bullish scenario.

Technical Analysis:

- Higher lows formation on longer timeframes.
- Market structure intact despite recent pullback.
- Potential reversal pattern.

Whale Activity:

- Previous peaks in whale concentration preceded upward movements.
- Current levels match previous peaks.

On-Chain Metrics:

- Strong network value.
- Institutional confidence amid market uncertainty.

Conclusion:

Solana's alignment of whale activity, network strength, and technical resilience sets the stage for a potential bullish reversal.

Potential Price Targets:

Short-term: $180-$200

Medium-term: $250-$300