After a period of sideways trading around the $200 mark, Solana ($SOL) is showing signs of a potential bullish breakout, driven by strong investor accumulation.
Data from Glassnode indicates that a significant amount of Solana has been pulled from exchanges, with balances dropping by 3.79 million SOL this month. This suggests that investors are moving their tokens into long-term storage, signaling confidence in the asset's future. The recent accumulation of $770 million worth of SOL further highlights a strong bullish sentiment.
From a technical standpoint, Solana's Relative Strength Index (RSI) is holding above the 50.0 mark, indicating that the bullish momentum is still strong and the price has room to climb higher before becoming overbought.
Currently priced at $203, Solana faces immediate resistance at $206. If investor support continues, the price could break past this level and climb toward $214 and potentially $221. However, if profit-taking occurs, a drop below the $195 support level could push the price down to $189 or lower, invalidating the current bullish outlook.
September 2025, Cryptoniteuae