Solana Price Prediction as Exchange Supply Surges

Solana is drawing attention from two different chart signals at once. On one side, exchange balances jumped sharply, while on the other, a long term support zone is still holding on the higher timeframe.

Solana Exchange Balance Rises After 1.40 Million SOL Moves to Exchanges

Solana exchange balances increased over the last 72 hours after 1.40 million SOL, worth about $110 million, moved to exchanges, according to Ali Charts, citing Glassnode.

The chart showed exchange-held SOL near 26.5 million on March 31. Then it climbed to about 27.4 million on April 1 and 28.6 million on April 2. That sharp rise suggests more tokens became available on trading platforms in a short period.

Solana Exchange Balance. Source: Glassnode via Ali Charts

Usually, exchange inflows can point to potential selling pressure because traders often send assets to exchanges before selling. Therefore, the move may raise concern about near-term supply.

However, inflows do not confirm that selling has started. Large holders can also move tokens for trading setup, collateral use, or internal wallet management. Even so, the data shows a clear increase in exchange supply, and that can affect sentiment.

Solana Chart Shows Key Support Zone but $1,000 Target Remains Speculative

The chart shared by Crypto Patel presents Solana on the 2 week timeframe and argues that SOL is holding a Fibonacci support area after a large decline from its all time high. The setup highlights the zone between the 0.5 and 0.618 Fibonacci levels, around $61.75 to $42.62, as a support or accumulation area. On the chart, price sits close to that zone after falling below the 0.382 level near $89.48.

Solana Fibonacci Support Zone. Source: Crypto Patel

That matters because traders often watch the 0.5 to 0.618 range as a possible reversal area during deep pullbacks. In this case, the chart suggests SOL is testing that region after a long corrective move. The white circle and green box both mark that area as the key level to defend.

Crypto Patel also points to Solana’s earlier rebound from the 2022 low. The chart marks a past rally of about 2,194%, which shows that SOL has already recovered sharply once from a deep bottom. Because of that, the post argues that another major rally remains possible from the current range.

However, the chart does not confirm that such a move has started. A support zone can hold, but price still needs to show a clear reaction, stronger structure, and sustained buying before any larger upside case becomes stronger. Until then, the support area remains only a potential base.

The $1,000 plus target on the chart is therefore a projection, not confirmation. It is drawn from the idea that Solana could repeat a strong cycle recovery if the current zone holds. Even so, that outcome would require a major breakout above several resistance levels first, including the areas near $89, $210, and later the higher range marked closer to $297.

So the main takeaway from the chart is simple: Solana has dropped into an important technical support zone that traders often treat as a possible accumulation area. Still, the bullish long term target remains speculative unless SOL first stabilizes and reclaims higher resistance levels.