$28 Million Whale Movement Impacts Solana Prices

$28 Million Whale Movement Impacts Solana Prices – Will SOL Reach $145 Soon?

Recent movements from cryptocurrency whales highlight a significant shift in Solana's (SOL) market dynamics. A newly created wallet has acquired 200,001 SOL from Binance, amounting to nearly $28 million, which is causing excitement among traders. This accumulation occurs as Solana remains within a defined trading range, and many are speculating whether SOL can break through the $145 resistance level.

Key Takeaways

A new wallet has absorbed $28 million worth of Solana (200,001 SOL) from Binance.
Solana is trading within a strong accumulation range between $126 and $145, showing signs of buyer strength.
Whale activity and increasing decentralized exchange (DEX) volume suggest a potential upward price movement.
Short positions in Solana are being liquidated amid tightening volatility, indicating market stress for bearish traders.
If SOL can break past $145, it may catalyze further upward momentum.

Solana builds strength as whales buy—Is a breakout finally coming?

Whale Activity Signals Potential Accumulation

Solana's recent price movements indicate a growing appetite among large holders, especially after a newly created wallet absorbed 200,001 SOL from Binance, totaling nearly $28 million. This surge in whale buying indicates strong accumulation as Solana maintains its position within a clearly defined trading range.

Currently, SOL is near the upper part of its accumulation block, leading many large holders to prepare for a possible price increase. Despite ongoing uncertainty in the broader market, whale trading often indicates a shift in market sentiment and potential trends ahead. Additionally, the withdrawal of SOL from centralized exchanges decreases liquidity, which can further enhance bullish sentiment. Given these factors, many traders are closely monitoring SOL to see if it is on the verge of a significant upward move.

Buyers Maintain Range as Accumulation Increases

Solana has established a solid base within a defined accumulation zone between $126 and $145, with buyers actively resisting deeper price retracements. The current price trading above the midpoint indicates strengthening buyer interest following a prolonged price decline experienced in previous months. Although market volatility remains limited, there are signs of improvement, with higher lows appearing at the lower boundary of the range.

If SOL can decisively break above the $145 resistance level, it could significantly shift market sentiment and might encourage a price rally toward the next liquidity level at $168. Traders are increasingly viewing this resistance zone as a foundational demand area, offering a potentially bullish environment for future gains.

Solana technical analysis Source: TradingView

The MACD (Moving Average Convergence Divergence) shows renewed momentum, with the MACD line rising above the signal line. This suggests that buyers are gradually reclaiming short-term control. The histogram bars are hovering around a neutral zone often seen before substantial momentum changes. While this signal is preliminary, it aligns with Solana’s sturdy accumulation structure, implying that strength is building beneath the surface.

Buying Pressure Intensifies Amid Market Dynamics

As of now, the Taker Buy CVD (Cumulative Volume Delta) has shifted decisively to the buying side. This trend illustrates that buyers are continuously absorbing market sell-offs across various futures platforms. This ongoing accumulation indicates a healthier demand, particularly when prices remain confined within a range. Because aggressive buyers dominate, selling pressure has not succeeded in causing a breakdown, thus supporting the general thesis of accumulation.

Although sentiment may fluctuate throughout the day, the consistent upward momentum in CVD indicates that market participants are confidently building long positions rather than selling into price rallies. The combination of whale accumulation and positive CVD metrics suggests that buyers are placing themselves strategically ahead of a potential structural shift in the market, with traders signaling deeper demand returning to Solana.

Solana Futures Taker CVD(Cumulative Volume Delta, 90-day) (1) Source: CryptoQuant

Increased DEX Activity Reflects Growing Interest

Solana's decentralized exchange (DEX) activity demonstrates a resurgence, with 24-hour volume reaching $3.798 billion and a remarkable seven-day activity of $24.613 billion. This surge represents a 12.76% weekly increase, showcasing a rise in organic participation from users preferring non-custodial trading environments.

As of now, the dominance of DEX over centralized exchanges (CEX) stands at 16.11%. This shift indicates an expanding base of demand that leans toward organic growth rather than speculative trading. While centralized exchanges continue to influence near-term price volatility, the increasing share of decentralized trading bolsters the ecosystem's liquidity foundation. More DEX activity often heralds sustained engagement on the network as users conduct transactions more frequently.

Source: DefiLlama

Short Sellers Facing Pressure as Volatility Decreases

Solana is under increasing pressure as the latest liquidation data reveals that $293.02K in short positions have been liquidated, compared to only $132.34K for long positions. Binance notably represents the majority of this imbalance, with $167.07K in liquidated short positions versus $64.51K in longs. This skew suggests that traders have been betting on price breakdowns near $138.64, only to see the price floor hold firm.

These failed breakdown attempts imply a weakening of bearish momentum while volatility stabilizes within the accumulation block. The concentration of liquidations near current price levels also indicates that sellers are struggling to sustain downward movement. While some uncertainty remains, the overall market behavior suggests diminishing downward pressure and a more positive environment for potential upsides as buying interest rises.

Source: CoinGlass

Is Solana on the Brink of a Major Reversal?

Solana is making a compelling case for a potential market reversal, driven by whale accumulation, improved momentum, and strong buying activity in the short-term order flow. While the $145 resistance level still needs a clear breakout, the combination of structural strength, growing DEX engagement, and persistent short pressure underlines the possibility of a bullish shift. If buyers can successfully break through the upper resistance with confidence, Solana may transition from its current accumulation phase into a noteworthy price increase, supporting the reversal narrative.

Final Thoughts

As whale activity increases and market dynamics shift, traders continue to monitor Solana closely for signs of movement. Should the price break through $145, it could set the stage for a significant upward trend, making it an exciting time for both seasoned and new crypto investors.