Okay, so a significant participant in the Solana (SOL) market has just withdrawn a substantial amount – we’re discussing 134,902 SOL, valued at approximately $19.3 million! Furthermore, listen to this, they aren’t simply holding onto it. They’ve submitted requests to liquidate 135,000 SOL, targeting rates ranging from $171 to an astounding $294 for each token. It appears they’re attempting to profit while the cost is high, or perhaps they possess knowledge we lack!
Following a short-term rebound, SOL has seen a considerable retracement and is now being exchanged for approximately $142. It is struggling to remain over a crucial base of support, with the subsequent substantial downward aim being $130. Should selling intensity increase, a drop under $120 might spark a broader negative trend, possibly resulting in a decline toward the mental support threshold of $100.
To recover its optimistic drive, SOL must move past the $167 mark. Nevertheless, conquering this barrier will necessitate robust request and purchasing intensity, as there appears to be considerable sell commands grouped above $171. Substantial sell commands from whales could burden SOL’s cost, setting up higher resistance thresholds. These major holders may be aiming to vend at a premium, but this does not essentially indicate an approaching crash.
If purchasing interest remains and absorbs the surplus supply, SOL could stabilize and restart its upward path. However, if request weakens, the asset may face further adjustments in the approaching days. Investors should closely observe whale transactions and volume trends to foresee Solana’s next significant action.
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