Time to Sell Solana (SOL)? Whales Unstake Millions as Price Drop
Sol is a local token for the Solana blockchain, and crypto enthusiasts seem to have attracted great attention after its recent decline. According to CoinMarketCap data, the price of SOL has dropped sharply by 20% in the past 24 hours, and the current trading price is close to $137.
Whale unfixed worth $10.4 million
According to On-Chain Analytics’ EyeonChain (formerly Twitter), SOL has been holding a crypto whale that has been holding $79,530 in SOL tokens since it traded for $43.
The post also noted that the whale had previously withdrawn nearly 200,000 Sol tokens worth $8 million and put them in. But as prices continue to fall, he now seems to be dumping and partially booking profits.
However, this potential profit booking occurs after the announcement of crypto strategic reserves, U.S. pro-Cretto U.S. President Donald Trump mentioned sol In the reserve. Given the current market sentiment and recent whale activity, it seems that the whales may say goodbye to Solana.
Will the Sol price drop to $100?
Beyond that, another cryptocurrency trader was bearish on SOL and deposited $2 million into a long-term token. However, the bearish signal comes from the fact that he placed a limit order between $100 and $131.82 to accumulate the token. This suggests that SOL may drop to $100 in the coming days.
Solana (Sol) price action and upcoming levels
According to expert technical analysis, SOL’s current support level is close to $130. Historically, this level has been a strong price reversal zone, often proof of huge buying pressure. Based on recent price action and historical momentum, if Sol has this level, it could surge 30% to $137 in the coming days.
According to Link Analysis Company Small shop. Data from spot inflows/outflows suggests that the exchange has witnessed the outflow of SOL tokens worth more than $180 million in the past 48 hours.
In the long run, SOL appears to be optimistic when combining this outflow data with technical analysis, and in the short term, assets seem to be working hard to gain momentum.
