Solana (SOL) has stayed surprisingly steady while most large-cap coins struggled to find balance after the recent crash. Over the past 24 hours, the Solana price has slipped just 1.8%, compared to 4.8% for BNB and over 2% for XRP and Dogecoin.
The token has already rebounded by more than 20% from its post-crash lows, suggesting the “Black Friday” jitters have eased. With both holders and traders showing renewed conviction, Solana now appears poised for a larger move — one that could stretch well beyond current levels.
Long- and Short-Term Holders Are Both Accumulating
On-chain data shows that both long-term and short-term investors have been actively positioning — signaling confidence in Solana’s recovery and long-term strength.
The Holder Net Position Change, which tracks how much long-term holders are buying or selling, remains negative but is improving fast. Between October 3 and October 14, long-term holders cut their net selling from about 11.4 million SOL to 6.1 million SOL — a 46% reduction.
Even during the October 10 “Black Friday” crash, when short-term fear spiked, the metric continued improving — suggesting that selling slowed even as prices dipped. This shift likely helped Solana rebound more than 20% from its lows and regain the $200 zone.
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While the indicator hasn’t yet flipped to net accumulation, it highlights how long-term investors are easing off on selling pressure and positioning for strength.
Meanwhile, short-term holders are showing clear accumulation behavior, according to the HODL Waves indicator. The 1-week–1-month cohort increased its holdings from 11.1% on September 14 to 12.65% by October 14, despite briefly trimming during the crash. The 1-month–3-month group also grew its share from 12.74% to 16.83%, one of the sharpest jumps among major coins.
The HODL Waves indicator tracks how much of a coin’s supply is held by wallets of different holding durations, helping identify accumulation or distribution trends.
Together, these shifts show both conviction and discipline — long-term holders reducing exits, and short-term traders quietly buying the dip.
One Channel Pattern Could Unlock $550+ for Solana Price
From a technical standpoint, Solana has been trading inside a broad ascending channel since June 22. Each major swing has respected this structure, with the last move between June and September producing a 100% gain.
For now, resistance stands at $227 and $250, while a confirmed breakout above $287 would signal a breakout from the channel. Fibonacci extension projections then point toward $346, $453, $540, and even $599, should momentum stay intact.
This falls in the 100%+ zone projection, per the ascending channel target math, which specifically points to a Solana price of $551.
Support remains strong near the $190 region, where buyers have consistently stepped in. As long as Solana holds this range, the broader structure stays bullish. However, a daily candle dip under $190 can push the Solana price towards new lows.
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