TLDR:
- $4B worth of Solana was accumulated around the $180 range, suggesting strong support.
- The recent Golden Cross on the SOL/BTC chart signals potential bullish momentum ahead.
- Large-scale Solana accumulation shows investor confidence and could act as a price floor.
- Key support at 0.0015000 BTC and resistance at 0.0020000 BTC highlight important SOL/BTC levels.
Solana (SOL) has seen notable price action over the past few days, with a strong upward trend that has captured investor attention. As of August 29, SOL is priced at $208.70, reflecting a 13.76% increase over the past seven days, despite a slight decline of 1.7% in the last 24 hours.
This surge follows a rapid climb from $190 to $217 between August 23 and August 29. The rise highlights a period of increased buying pressure and renewed interest from investors, signaling positive market sentiment surrounding the crypto.
Distribution Heatmap Shows Strong Support at $180
A recent chart shared by analyst Ali Martinez presents a detailed look at the Solana cost basis distribution over time, focusing on a significant accumulation of SOL at the $179.68 to $180.19 range.
18.56 million Solana $SOL, worth nearly $4 billion, were accumulated at around $180! pic.twitter.com/1a0oi3cOFH
— Ali (@ali_charts) August 29, 2025
According to the heatmap, around 18.56 million SOL were bought within this price range, amounting to nearly $4 billion. This large-scale accumulation could indicate strong support around the $180 level.
The heatmap further reveals zones of higher supply, marked by yellow and orange, that correspond to specific price levels where investors have actively purchased or held SOL. This distribution pattern suggests that the $180 price point could serve as a key support level for Solana moving forward.
With so much SOL acquired in this price range, a future dip toward $180 might see significant buying interest, preventing the price from dropping further below that threshold.
Turning to the Solana to Bitcoin (SOL/BTC) trading pair, chart analysis shared by Mikybull Crypto reveals a bullish trend over the past year. The chart tracks price action from mid-2022 to mid-2026 and highlights significant volatility. Notably, SOL has gained strength against Bitcoin, with a clear upward shift in price since mid-2024.
$SOL IS ABOUT TO RIP HIGHER
GOLDEN CROSS JUST FLASHED ON
HARD TO IGNORE THIS pic.twitter.com/eXsabj3Olp
— Mikybull
Crypto (@MikybullCrypto) August 29, 2025
One key technical development is the formation of a Golden Cross, where the short-term moving average crosses above the long-term moving average. This crossover is often seen as a bullish signal, indicating that the price could continue to rise.
Historically, previous instances of Golden Crosses have been followed by upward price movements, reinforcing the likelihood of continued bullish momentum for the SOL/BTC pair.
Support and Resistance Levels on the SOL/BTC Chart
Further analysis of the SOL/BTC pair reveals key support and resistance levels that could impact future price movements.
A strong support zone exists around 0.0015000 BTC, where the price has bounced multiple times in the past. On the resistance side, the 0.0020000 BTC level is critical. If Solana’s price surpasses this resistance, it could signal further upward movement.
The next major target could potentially be around 0.0025000 BTC, with higher targets possible, depending on market conditions. This analysis emphasizes the importance of these levels for traders and investors closely watching the SOL/BTC pair for potential breakout opportunities.
The post Where’s Solana Price Headed as $4 Billion SOL Accumulated? appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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