Solana price has had a tricky few weeks. Each attempt to break resistance has ended in a short-lived bounce. The token is down 10% over the past seven days but still holds a small three-month gain of about 2%, keeping its broader uptrend intact.

Now, another bounce looks possible — and this time, both on-chain and chart data suggest it could build into something stronger, provided the Solana price clears key resistance levels.

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Short-Term Buyers Step Up as Long-Term Pressure Eases

Blockchain data from HODL Waves shows that short-term holders are back to accumulating. This metric tracks what percentage of a token’s total supply is held by different age groups of holders.

Over the past two weeks, wallets holding SOL for one to three months have increased their share from 14.61% on October 7 to 18.46% on October 21, a gain of roughly 26%, showing clear accumulation near recent lows.

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Meanwhile, long-term holders are still selling, but at a slower pace. The Hodler Net Position Change metric — which measures how much long-term investors are increasing or reducing holdings — remains negative.

This means coins are still leaving older wallets. However, the outflows have dropped sharply by about 59%, from -10.52 million SOL on October 7 to -4.33 million SOL on October 21.

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The shift signals that short-term buyers are now absorbing most of what long-term holders are

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Author: Ananda Banerjee