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

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

On the 26th (local time), AMB Crypto stated, "Solana's on-chain indicators suggest the potential for an upward move. It could reach a new all-time high in the coming months."

AMB Crypto focused on the Market Value to Realized Value (MVRV) ratio. Historically, Solana's MVRV ratio exceeded 2.5 at short-term peaks and 3.5 at cycle peaks. Currently, Solana's MVRV ratio is around 1.2, indicating further surges may be expected.

Positive on-chain indicators were also mentioned. The outlet noted, "An increase in the number of wallets holding over 1,000 SOL has a strong positive correlation with price appreciation," and added, "Since March, the number of wallets holding over 1,000 SOL has increased by about 1,400."

The increase in this indicator signals ongoing accumulation by whales and a potential rally, the report stated.

Peter Brandt, a crypto analyst, also projected upside for Solana. He said, "Solana is currently forming a bullish cup and handle pattern," and added, "If this pattern breaks out, Solana could rise up to $518."

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