Analysts believe a renewed SOL rally could happen if the price surpasses the resistance levels of $176-$188.
A trader known as XO recently sold their entire spot bag and is now considering re-entry options around the $140-$150 zone or potentially $120.
Growing number of wallets holding SOL indicates increased participation in the ecosystem, with many newcomers likely being retail investors.
Analysts suggest that SOL's monthly chart shows a massive ascending triangle pattern, and a breakout above $267 could lead to a significant price surge.