Solana Price Surges on Bullish Signals Amid Whale Buying Spree
Solana's price has shown signs of recovery, according to Ash Crypto, who points out that SOL recorded its first green monthly candle in 10 months. The analyst notes that the Monthly RSI broke a two-year downtrend, while the MACD approaches an unconfirmed bullish crossover.
A whale address, HURDw, has also been buying Solana over three weeks, with total purchases worth $28.82 million. This activity coincides with SOL's price recovery toward $100 after a decline from levels above $200.
On the daily chart, analyst 0xSweep notes a fresh golden cross, which occurred when the shorter-term moving average moved above the longer-term trend line. The crossover has previously led to significant gains for SOL, and 0xSweep projects an increase of about 56.14%, or $54.49, with the price potentially reaching above $150 by the end of October.
However, it's essential to note that the broader Solana price structure still requires confirmation, and holding the $60 to $80 zone would preserve the recovery structure shown on the chart.