Solana Price Outlook: Analysts Predict $330 Rebound as Trump Eyes Crypto Reserves
- Solanas TD Sequential buy signal suggests potential price rally toward $220.
- Whale activity and inflows hint at growing bullish sentiment for Solana.
- Trumps transition team is considering adding SOL to U.S. strategic reserves.
Solanas recent price action is capturing attention as technical indicators and market sentiment point toward potential bullish momentum. The cryptocurrency has been pushing back above key levels, with analysts predicting further gains in the coming weeks.
This comes as SOLs price stabilizes and shows signs of recovery, which could be reinforced by a larger market shift. Furthermore, a surprising political development has emerged, with Donald Trumps transition team exploring the idea of adding SOL, along with other cryptocurrencies, to the United States strategic reserves.
Technical Indicators Signal Bullish Momentum for Solana
According to analysts, including Ali Martinez and CryptoJelleN, Solana (SOL) is showing signs of a potential rebound. Martinez highlights that the TD Sequential indicator on the daily chart is signaling a buy, forecasting a price rally towards $220.
Additionally, CryptoJelleN notes that Solana has successfully pushed above key price levels, reinforcing the bullish outlook. The analyst emphasizes that price movements generally do not fake out twice in a row, and a close above $210 could see Solana reaching $330 in the near term.
As of press time, SOL is trading at $214.96, the Relative Strength Index (RSI) is at 57.49, indicating neutral to bullish momentum, which shows that buyers are in control, but the market is not yet in overbought territory.
SOL/USD daily price chart, Source: Trading view
The Moving Average Convergence Divergence (MACD) also supports the bullish outlook, with the MACD line above the Signal line and histogram bars turning green. These signals suggest that bullish strength is building, and further price gains could be expected if the momentum continues.
Whale Activity and Market Sentiment
Recent data from Whale Alert reveals significant transactions in Solana, with over 245,000 SOL tokens transferred between unknown wallets. This activity coincides with shifting investor sentiment.
From March to early November, the market saw a balance between inflows and outflows. However, there were clear correlations between selling pressure and price declines, particularly in mid-April and August.
Source: Coinglass
In contrast, mid-November marked a surge in inflows, which was followed by a strong accumulation phase. Despite some profit-taking in December, recent inflows in January suggest that Solana may be entering another phase of accumulation, hinting at continued bullish sentiment.
Potential Strategic Reserve Moves from U.S. Government Could Boost Solana
Beyond technical indicators and market movements, recent political developments could add a further layer of optimism for SOL. Newyork Post reports suggest that Donald Trumps transition team is considering the inclusion of Solana, along with XRP and USDC, in the U.S. strategic reserves.
This idea has sparked controversy, but it underscores growing institutional interest in cryptocurrencies. Should this move come to fruition, it could significantly enhance Solanas value and market position.
Read more: https://www.tronweekly.com/solana-price-outlook-analysts-predict-330/
Text source: TronWeekly
