"Solana On-Chain Indicators Positive…Possibility of Reaching All-Time High"

There are claims that Solana (SOL) could reach an all-time high (ATH) in the coming months. Currently, Solana's all-time high is around $295 based on Binance.

On the 26th (local time), AMBCrypto stated, "Solana's on-chain indicators suggest the possibility of an upward trend. It could reach a new all-time high in the coming months."

AMBCrypto focused on the Market Value to Realized Value (MVRV) indicator. Historically, Solana's MVRV indicator has recorded over 2.5 at short-term peaks and over 3.5 at cycle peaks. Currently, Solana's MVRV indicator is at 1.2, suggesting the potential for further surges.

Additionally, positive on-chain indicators were mentioned. The media stated, "The increase in the number of wallets holding over 1000 SOL has a strong positive correlation with price increases," adding, "Since March, the number of wallets holding over 1000 SOL has increased by about 1400." It further added, "The increase in this indicator suggests continuous accumulation by whales and potential rallies."

Peter Brandt, a cryptocurrency analyst, also predicted an increase for Solana. He stated, "Solana has currently formed a bullish cup and handle pattern," adding, "If this pattern breaks out, it could rise up to $518."

As of 7:28 PM, Solana is trading at $177 on the Binance USDT market, up 3.31% from 24 hours ago.