- A long-term Solana whale has unstaked and transferred over 125K SOL worth 17.64 million USD to Binance after four years
- If buying pressure continues to be maintained, SOL could return to the 165 USD level
Solana Adjusts in Downward Trend, Selling Pressure from Whales Appears
Solana (SOL) has been stuck in a price decline channel for two weeks. Since reaching a short-term peak of 187 USD, the altcoin has continuously dropped sharply, at times touching a dip of 141 USD.
This prolonged development has made many long-term holders impatient, especially those who have locked SOL in Staking.
In fact, whales have begun to reduce their positions.
Source: X
According to Onchain Lens, this whale has unstaked 25,008 SOL, equivalent to 3.7 million USD, and transferred 25,000 SOL to Binance. In the past two months, this wallet has unstaked a total of 125,045 SOL (worth approximately 17.64 million USD) after holding the coin for four years.
However, the whale continues to stake 1.17 million SOL, worth 174.17 million USD.
Strong selling moves from large investors often signal a loss of market confidence. This completely aligns with SOL's recent downward trend, causing the community to worry that long-term holding sentiment is weakening.
Solana Cash Flow Reverses, Netflow Increases Again
Source: CoinGlass
Data from Coinglass shows a notable change in trading activity on exchanges.
Specifically, SOL's netflow has turned positive for the first time in 16 days – meaning the amount of SOL deposited exceeds withdrawals. This is typically a signal indicating increased selling pressure.
Despite this negative technical signal, SOL's price remains stable on the chart.
Investors Absorb Large Supply
Instead of experiencing a deeper selloff, SOL has recovered and slightly increased.
From the dip of 141 USD three days ago, SOL has had two consecutive positive closing sessions. At the time of writing, SOL is trading around 152 USD, up 3.16% in 24 hours.
Source: Coinalyze
A key reason SOL hasn't dropped significantly is that a large number of small investors have been buying when whales are selling.
According to Coinalyze, buying volume recorded 479K SOL in the spot market, with a positive Delta of 113K, clearly showing demand exceeding supply.
Source: TradingView
Technical Analysis: Recovery Probability Increases, Reversal Signal Appears
From a technical perspective, SOL is showing early recovery signals.
The Stoch RSI indicator on Solana's daily chart has shown a bullish crossover, and price momentum is being consolidated on the chart.
With this new momentum, the current trend is likely to continue. If demand is maintained and RSI is confirmed, SOL could recover to the 165 USD level. Conversely, if whales continue to sell, the price might return to test the important support zone of 140 USD.
