Solana Price Exhibits Bullish Divergence: Is a Break Above $138 Resistance Imminent?

Bullish Divergence Indication: Solana ($SOL) is showing signs of a bullish divergence on the 8-hour chart, suggesting a potential reversal of its downtrend as it currently trades at $126.30, just below the critical resistance level of $138.

Resistance Level Importance: Analysts highlight that breaking through the $138 resistance is crucial for Solana to regain upward momentum and signal a stronger bullish movement, which could restore investor confidence.

Whale Accumulation Activity: Significant whale accumulation has been observed, with large investors purchasing Solana during price dips, indicating confidence in its long-term potential and suggesting that the asset may be undervalued.

Market Sentiment and Future Outlook: The renewed interest from whales and the price hovering near $126.30 has traders closely watching the $138 resistance, as a breakthrough could initiate a new bullish phase for Solana in the coming weeks.