Altcoins News
By Julie Binoche
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Solana (SOL) is once again gaining traction in the crypto market, signaling a possible bullish breakout.
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One of the strongest signals comes from whale activity. Wallets holding more than 10,000 SOL have seen a noticeable increase, rising by 1.
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From a technical perspective, Solana is shaping up within a classic cup-and-handle pattern. This bullish chart formation, often associated with continuation rallies, has been…
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However, while price action and whale behavior suggest optimism, derivatives market sentiment presents a different narrative.
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Supporting this theory is Solana’s recent spot inflow data. On April 20, spot inflows totaled $96.27 million, narrowly surpassing outflows of $88.36 million.
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Beyond technical patterns and investor behavior, Solana’s DeFi ecosystem is also showing signs of revival. In just 24 hours, the network’s total value locked (TVL) rose by 3.
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The combination of whale interest, favorable technical setups, and growing DeFi usage paints a compelling picture for Solana.
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Still, key resistance remains at $144.40, and bulls must reclaim this level convincingly to confirm the breakout. If successful, the next target lies at $179.
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In summary, Solana stands at a crucial technical and psychological juncture. With whales accumulating, DeFi activity rebounding, and strong spot flows in play, the conditions are…
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