Solana Whale Moves $20M Off Binance, Bullish Signal or Trap?
As the entire cryptocurrency market hints at signs of price recovery, a crypto whale identified Sorana (SOL) as an ideal asset and made a major bet.
Whale buys $20 million Solana (SOL)
Today, on February 19, 2025, blockchain-based transaction tracker LookOnchain was released on X (formerly Twitter), and the Whale Wallet Address “AA21…VXH9” brings 123,500 SOL to Binance, worth 20.8 million Dollar.
In the market recycling process, this large amount of sol transferred from the second line from the binary appears to be a potential accumulation, which may create buying pressure and drive further upward momentum. However, Solana (Sol) has not responded significantly yet as its price remains the same.
Current price momentum in Solana
At press time, the asset traded close to $169, experiencing a 1% uptrend over the past 24 hours. However, during the same period, its trading volume fell by 20%, indicating that traders and investors remain reluctant to participate in the assets.
Solana (Sol) technical analysis and key levels
The underlying reason behind this fear is the recent breakdown of key support levels of $180, sol Can’t hold it. Additionally, it has fallen below the 200 exponential moving average (EMA), indicating that the assets are on a downward trend.
Based on recent price action and historical patterns, Sol appears to be bearish, with a high probability of between $160 and $180 until it exceeds $190. However, if bearish sentiment and price fall, and SOL is below the $160 level, there is a high probability that it will fall another 20% to reach $120 in the future.
Trader’s $145 million, long bet
Despite the invisible prospects, traders and investors don’t seem to be affected as they continue to accumulate and bet on tokens, according to LinkAnalytics. Small shop.
According to the data, traders’ bets on bullish terms are currently dominating as they have a leverage of up to $162.8 and hold long positions worth $145 million. This level of over-leverage suggests that traders believe that Sol’s price will not be below this, which is currently strong support.
