- A crypto -whale whale unstoppable 120.197 Sol and moved it to Binance, who flashed a clear bearish signal.
- Solana can only gather if it breaks consolidation and closes a daily candle above $ 154.
In the middle of rising volatility in the cryptomarket, Solana [SOL] Avoided a deeper breakdown by holding up $ 143.5 above, thanks to Bitcoin [BTC].
On 6 May, while the majority of the cryptocurrencies fell, Sol fell shortly under this important support.
Market sentiment and current price momentum
However, a rapid increase of 3% in the price of BTC pushed the market into the green, allowing Sol to recover quickly.
At the time of writing, Sol had risen by 2.75%and acted around $ 147.50 after reaching an intraday high of $ 149.50. Of course, the fast rebound attracted attention, with trade volume that rises 40% in the last 24 hours.
Crypto Whale Unstakes $ 17.55 million in Sol, time to sell?
The current market sentiment and volatility seem to have created a Solana whale.
According to Onchain -lensA whale not stuck 120.197 SOL worth $ 17.55 million and sent the money to Binance.
Source: X
This remarkable amount of sol was not stuck after he was locked up for six months. In the same period the whale earned a reward of 3,802 Sol, but was still confronted with a loss of $ 7.8 million.
Of course, such a large-scale Onstak, mainly followed by a binance transfer, often refers to an intention to sell. This could introduce the sales pressure in the short term and the upward movement of SOL-SOL.
Solana price promotion and upcoming levels
According to Ambcrypto’s technical analysis, Sol seems to consolidate in a tight reach between $ 143.5 and $ 154 in the last two weeks, after an outbreak above the most important level of resistance at $ 143.
Source: TradingView
That said, such lateral price action after the breakout is usually bullish. It often indicates strength if it actively cools before the next movement.
If Sol breaks above $ 154, a 15% rally could follow, pushing the price to $ 180.
On the other hand, a drop below $ 143.5 can cause a decrease of $ 132 in the short term.
Given the recent volatility in the price of the active, a prominent one crypto expert noted on X (formerly Twitter) that $120 is the strongest historical support for SOL.
This zone has repeatedly activated the price overalls during the decline of the market. Of course, if the prices go to the south again, $ 120 could offer an important ‘buy-the-dip’ opportunity.