Solana Price Prediction as $1 Billion Trading Volume Sends SOL Flying Up 25% – Are Whales Buying?

cryptonews.com:

The price of Solana (SOL) has surged by 25% in the last seven days now, with the coin's rise to $24.21 also representing a 6% gain in 24 hours.

This makes SOL one of the best-performing coins in the market right now, with the token also having appreciated by 23% in a month and by just over 140% since the beginning of the year.

And with SOL's jump today coming when the market as a whole appears to be beginning a recovery, it's very likely that the altcoin could record further gains in the next few days and weeks.

It will be particularly interesting to see whether SOL can break through its current resistance level (red) of about $25, with a sustained breakout being likely if it does manage to do this in the next couple of days.

It certainly has the momentum to reach some new levels at the moment, with its relative strength index (purple) breaking through the 70 level earlier today and still inching up towards 80.

This would suggest that it's not about to lose momentum anytime soon, with its 30-day moving average (yellow) now on course to overtake its 200-day average (blue), something which could provide another source of a breakout.

There's no question that SOL is very strong right now, with its 24-hour trading volume close to hitting $1 billion, which would be its highest since July.

Such a spike in volume could indicate that whales and large investors are now accumulating the token once again, although there have been no especially large SOL transfers in the past couple of days, meaning that retail could be driving today's spike.

Either way, some analysts are predicting big things for SOL, which had been oversold over the past couple of months but which had remained fundamentally strong despite this.

Indeed, Solana's total value