Solana’s Recent Surge: Could a Breakout Above $172 Signal Further Gains?

Key Points

1. Solana's price increased by 5.08%, driven by a $12 million whale accumulation and renewed market interest.

2. Whale activity included a transfer of 71,000 SOL tokens to Kamino for yield, signaling confidence in holding the asset.

3. Retail participation showed a positive Buy-Sell Delta for three consecutive days, indicating aggressive accumulation.

4. Solana's Netflow dipped to -$6.86 million, suggesting higher outflows and upward price pressure.

5. Futures traders showed sustained demand with over 79% long positions, and SOL is testing the $172 resistance level for potential gains.