Is it too late to buy Solana? Whale activity signals big moves ahead

Is it too late to buy Solana? Whale activity signals big moves ahead

BitVerge – Solana (SOL) is the best performing cryptocurrency among the top five cryptocurrencies by market cap right now.

A daily trading volume of $3 billion reveals that crypto whales are piling up SOL, the native token of the Solana blockchain, which has helped its price rise by 3.7% in the past 24 hours. Solana is up 0.5% compared to its price at the same time last week and currently stands at $135, making it the best performing cryptocurrency among the top five cryptocurrencies by market cap today.

Bitcoin (BTC), the world’s most popular cryptocurrency with a market cap of $1 trillion, has seen a 3.3% increase in the last 24 hours, while it has fallen 3.2% over the week to $57,144. Ethereum (ETH) holders have seen the least price movement among the top three layer-one cryptocurrencies, with the coin up 1.3% on the day and down 6.3% over the week to $2,350.

But the data suggests that Solana’s small winning streak may soon come to an end.

Solana Price Analysis and Latest Developments

The most frequent low for Solana over the past three months was $125, while resistance fell from $180 in July to $160 by late August

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With the RSI currently at 62, Solana is heading towards the overbought zone at 70. This means that any short-term price gains could hit resistance at $140 before retesting new support levels.