Solana Price Prediction as SOL Surges 7.8% with $2.8 Billion Volume – Are Whales Buying Before $1,000?

cryptonews.com:

SOL has jumped by 8% today, with the Solana price reaching $153.37 as the wider crypto market gains by 2.5% in the past 24 hours.

The altcoin is also up by 10% in the past week, although it remains down by this percentage in a month, following a bearish period for the market as a whole.

Yet it seems that today marks a short-term turning point for SOL, which has seen its 24-hour trading volume reach $2.8 billion today.

This level is a sign that it could be ready to make another big move in the coming days, as the market looks to shake off negativity.

SOL’s chart is in a strong position today, with its indicators all signalling a short-term growth phase.

Its relative strength index (purple) touched 70 earlier this morning and remains high, suggesting that buying pressure is increasing again and could stay for a few more days.

SOL’s 30-day moving average (orange) is also on the up, having risen above the 200-day average (blue) last night.

Also interesting is the fact that Solana’s resistance (red) and support (green) levels are converging on each other, pointing to a big incoming move.

However, the past day has seen a massive quantity of Solana – worth about $1.5 billion – transfer from one unknown wallet to another.