Solana Rises 5% Amid Increased Accumulation by Long-Term Holders

Solana experienced a 5% increase in the past 24 hours, driven by accumulation from holders with 155 days or more. According to NS3.AI, these holders increased their holdings from approximately 396,520 SOL on March 10 to about 819,634 SOL by March 12. However, concerns about the sustainability of this rebound have emerged due to a bearish divergence in the Smart Money Index and the formation of a head-and-shoulders pattern.