- Solana price is showing early bullish reversal signs as monthly indicators improve and a whale accumulates $28.82 million worth of SOL.
- A fresh golden cross has also raised the possibility of SOL moving above $150 if the recovery continues.
Solana price is showing early signs of a possible trend reversal after a long period of weakness. Several technical indicators have improved as SOL recovered from the $60 area and returned to around $100.
SOL traded near $102.08 after falling about 3% in 24 hours. Despite the daily decline, Solana has gained 34.8% over the past 30 days. Weekly and 14-day gains stand at 0.8% and 4.5%, respectively.
Analysts are now watching whether the recovery can extend above the $100 region. A combination of monthly chart signals, whale buying and a fresh golden cross has strengthened the bullish case.
Solana Monthly Chart Shows Three Key Signals
Analyst Ash Crypto highlighted three developments on Solana’s monthly chart that could signal a bullish reversal.
The first is SOL’s latest monthly candle. After months of declines, Solana recorded its first green monthly candle in roughly 10 months. The recovery followed a drop toward $60 and brought SOL back toward the $100 level.
The second signal comes from the monthly MACD. The indicator is approaching a bullish crossover, although the crossover has not yet been confirmed. A confirmed move could provide further evidence that selling pressure is easing.
The monthly RSI provides the third signal. According to Ash Crypto, RSI has broken above a descending trendline that had remained in place for about two years.
This break suggests that the long-term weakness in SOL’s relative strength may be changing. However, Solana still needs stronger price confirmation before the reversal can be considered established.
Holding the $60 to $80 region would help preserve the current recovery structure. A sustained move through $100 and then $120 could provide a stronger technical signal.
Whale Accumulates 285,503 SOL
Technical indicators are not the only development attracting attention.
On-chain data shows that whale address HURDw accumulated 285,503 SOL over three weeks. The purchases were worth approximately $28.82 million based on the reported prices.
The whale received SOL through multiple transactions rather than a single large purchase. One of the largest transfers involved 49,732 SOL worth about $5.07 million.
Other notable transactions included 25,230 SOL valued near $2.63 million and 24,988 SOL worth around $2.59 million.
The accumulation occurred as Solana recovered from its earlier decline. Large purchases do not guarantee a price increase, but sustained whale buying can become an important factor when combined with improving technical indicators.
Golden Cross Puts $150 on the Radar
Another bullish signal has appeared on Solana’s daily chart.
Analyst 0xSweep identified a fresh golden cross after SOL recovered from the $60 to $80 range. The setup occurs when a shorter-term moving average crosses above a longer-term moving average.
The analyst compared the latest crossover with an earlier golden cross on the same chart. Following the previous signal, SOL climbed about 56.22% before reaching the $250 region.
Applying a similar percentage move to the latest setup would place SOL above $150. The analyst suggests that such a move could occur by the end of October.
However, $150 remains a technical scenario rather than a confirmed price target. SOL must first clear the $105 area and maintain its recovery above $100.
For now, the combination of improving monthly indicators, significant whale accumulation and the new golden cross gives Solana bulls several factors to watch. The next major test will be whether SOL can turn the $100 area into lasting support and push through the $105 to $120 range.
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