Solana (SOL) price trades in green, above $242 at the time of writing on Monday, after breaking out of a parallel channel last week with bulls aiming for record highs. On-chain and derivatives data paint a bullish picture with surging on-chain activity, record open interest, and growing institutional accumulation, hinting at another leg higher this week.
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) hover around key levels after recovering by nearly 4%, 7%, and 6%, respectively, last week. At the start of this week, BTC is hovering below its key resistance level at $116,000, while ETH and XRP show signs of resilience that could fuel further upside momentum.
Ethereum has been seeing strong accumulation around the $4,300-$4,400 range in the past few weeks. During this period, accumulation addresses — wallets with no record of selling activity — have purchased over 1.7 million ETH within this range, according to a Thursday note by a CryptoQuant analyst.
