Key Insights:
- A whale has unstaked 25,008 SOL worth $3.7M and transferred 25K SOL to Binance.
- SOL is above a support zone and if it breaks, it could go higher with a quick V-shape recovery.
- Solana traders’ mood was mildly negative for the retail and neutral for the Smart Money.
Solana news report noted a potential rise in the offing as per the price action despite whale activity saying otherwise. The massive unstaking followed by a deposit to Binance cast doubt SOL’s future.
Solana News: Whale’s Potential Cash Out After Unstaking
A large Solana holder unstaked 25,008 SOL, worth about $3.7 million. Shortly after, they transferred 25K SOL to Binance, likely preparing to cash out. This move hinted at uncertainty over the token’s future.
This wallet has taken out 125,045 SOL from staking. This amounts to $17.64 million, after keeping its staking period for four years.
Nonetheless, the whale maintains staking 1,176,375 SOL. It is valued at approximately $174.17 million, demonstrating sustained long-term involvement with Solana.
This implies that the firm is ready to manipulate its price range through periods when the marketplace is volatile. While Binance transfer suggested there might be a coming sell-off, the large balance of locked tokens suggested the whale still trusts Solana.
Such changes often caught people’s attention. They could show larger shifts in the market or changes in a company’s portfolio. Solana followers should monitor whether this movement triggers short-term volatility. Some may view it as a routine event in an expanding crypto market.
Solana News: Has SOL Found Its Bottom at $130?
Solana’s price has been trending upward after surpassing the $145 support zone. It continued to rise, reaching $150 and maintaining bullish momentum.
As the price broke the long-standing downtrend line, this level again appeared to check the breakout and confirm it was real. The breakout happened just below the $130–$140 zone, and the asset’s price soared above $180.
The momentary chart indicates that the previous resistance zone may now act as support. This shift suggests potential upward movement in the near term.
Should the price around $145 maintain its support, SOL might start a V-shaped recovery. After trading around $180 and $220, the target price could be the path toward $260 and $300.
The price pattern demonstrated similar movements to past breakout retest cases. This usually led to sustained gains. If SOL’s price reverses and drops toward $130, it could find its bottom here. Failure to protect this zone might turn the potential move higher into one that never occurs.
For now, traders are looking for higher lows and accompanying volume at $150. This could be a sign that the bullish outlook might happen.
Solana Market Sentiment
As of press time, Solana news noted the traders’ mood was mildly negative and neutral. The score of -0.27 showed that there was slightly negative sentiment among retail traders.
So, investors were not confident about moving the market much higher soon. At the same time, smart money sentiment was 0.00. This suggested that large and experienced investors were still undecided and were not taking any prominent positions on the market.
The indications were that the market could wait for additional signs before making bullish or bearish decisions. Smart money remained on the sidelines, signalling uncertainty.
Investors seemed hesitant to make big moves, preferring to observe broader market trends. SOL’s price was expected to stay within its typical range. A substantial shift would require large buyers or sellers driving the market in response to new developments.