Solana is showing early signs of a possible rebound as bullish RSI divergence develops on the weekly chart near $73. However, a 5% drop in wallets holding at least 0.1 SOL signals weaker participation and keeps the broader SOL price outlook uncertain.
Solana Holder Count Drops 5% as Smaller Wallet Participation Slows
Solana’s holder base has weakened over the past two weeks, with the number of wallets holding at least 0.1 SOL falling from 11.84 million to 11.26 million. The decline suggests fewer addresses are maintaining balances above the threshold, pointing to softer participation among smaller holders.
Solana Wallets Source: Ali Charts on X, citing Glassnode
The chart shows a steady decrease in qualifying Solana wallets before a sharper drop near the end of July. After falling below roughly 11.50 million addresses, the count continued lower and stabilized near 11.26 million in early August.
Overall, the number of wallets above the 0.1 SOL threshold declined by about 580,000, or nearly 5%. That trend may indicate that some smaller holders sold, transferred or reduced their balances below the cutoff. It could also reflect weaker growth in new wallets entering the group.
The data does not confirm that 580,000 individual investors left the Solana market because one person can control several wallets. Still, the sustained decline matters because broader wallet participation can help measure retail interest and network distribution.
For SOL’s price outlook, the metric acts as a cautionary signal rather than direct proof of further losses. A continued decline in holder numbers alongside falling prices would strengthen the bearish interpretation. In contrast, stabilization or renewed growth in qualifying wallets could show that participation is recovering.
A second Solana chart is still needed to complete the full two-chart price-prediction article, headline and two-sentence introduction.
Bullish RSI Divergence Builds on SOL’s Weekly Chart
Solana’s weekly chart shows a developing bullish divergence, suggesting selling momentum may be weakening even as SOL trades near its recent lows.
Image name: SOL RSI Divergence. Source: gum (@gumsays) on X; TradingView
SOL was trading near $73.11 when the chart was shared, while the weekly relative strength index stood at 38.19. Price has formed a lower low, but the RSI has produced a higher low, creating the bullish divergence marked by the green trend lines.
This setup suggests bearish momentum is fading. However, divergence alone does not confirm that SOL has reached a lasting bottom. Buyers still need to push the price above the recent consolidation area around $80 to $90 before the chart begins to show a stronger recovery.
A sustained move above that region would support a rebound toward the next major psychological level near $100. Until then, SOL remains within a broader downtrend, and the divergence should be treated as an early signal rather than a confirmed reversal.
On the downside, the recent low around $60 to $65 is the key support zone. A weekly close below that area would weaken the bullish setup and indicate that sellers remain in control.
The analyst also presented a longer-term bullish thesis based on Solana’s token economics, network activity and application ecosystem. Those claims provide context for the outlook, but the chart’s main technical signal is the improving RSI momentum near support.
