Key Takeaways
- Solana (SOL) price action eyes a 21% rally as the asset forms a bullish candle at a key support level.
- An expert reveals that the TD Sequential has flashed two buy signals for SOL, with a target of $250.
- Amid the dip, a crypto whale added 232,560 SOL worth $50.36 million from Coinbase Institutional.
Solana (SOL), the sixth-largest cryptocurrency by market cap, is poised to reverse its bearish trend that began on September 19 at the $252 level. Since then, the asset’s price has dropped to the current level of $213.50.
Solana (SOL) Eyes 21% Price Uptick
TimesCrypto’s technical analysis suggests that the current level appears to be a key support for SOL.
According to the daily chart, the asset has been hovering within an ascending channel pattern that began on August 2, 2025, at the $157 level. Since then, the asset has remained strong within this pattern, moving between the upper and lower boundaries while forming a higher-high and higher-low structure.
At press time, the chart shows that SOL is taking support from the lower boundary and appears to be forming a bullish hammer candlestick pattern. This indicates that the asset may be preparing to repeat history by heading toward the upper boundary.
If SOL holds the lower boundary, there is a strong possibility that it could see a notable 21% price jump and may reach the $258 level.
Solana (SOL) Technical Analysis
Solana’s technical indicators, Bollinger Bands and Average Directional Index (ADX), are flashing a bullish signal, strengthening the overall outlook.
On the daily chart, SOL price is hovering near the lower boundary of the Bollinger Bands, suggesting the asset is in oversold territory and has the potential to rebound.
Meanwhile, the ADX value has reached 29, above the key threshold of 25, indicating strong trend momentum and supporting the possibility of an upward price move.
Expert Shares Buy Signal For Solana
Given the current market sentiment, a crypto expert shared a post on X making a bold claim. In the post, the expert noted that Solana’s TD Sequential indicator has flashed a buy signal. The expert added, “Defend $210 and $250 comes next!”
Whale Buy the Dip: Add $50 Million of SOL
Adding to the strength, whales seem to be accumulating the coin. According to the crypto transaction tracker Whale Alert, an unknown wallet address transferred 232,560 SOL worth $50.36 million from Coinbase Institutional.
Such transactions by whales typically indicate accumulation and are considered a bullish sign for token holders.
Binance Traders Gone Crazy
Meanwhile, traders seem to be following the same trend, as revealed by the on-chain analytics tool Coinglass.
At press time, the Binance SOLUSDT Long/Short ratio has reached 2.83, the highest since September 8, 2025. A value above 1 indicates bullish sentiment, while below 1 suggests bearish sentiment. Here, the 2.83 ratio signals strong bullish sentiment among traders.
The metric further reveals that 73.88% of Binance traders are currently betting on long positions, while 26.12% are on short positions.
