Solana Whale Drama: $160 or Bust? Find Out What’s Really Going On

by
  • A whale dumped 44,539 SOL for a cool $6.8M profit while another dropped $8.88M into staking, sending mixed signals.
  • Solana is hanging out below its key moving averages with RSI chilling at 36.84, signaling trend weakness. The drama continues!

In a move that could have been scripted by a reality TV producer, Solana (SOL) saw some jaw-dropping whale behavior in the last 24 hours.

One whale, clearly feeling confident, staked a massive 61,838 SOL. The other whale, probably feeling a little too smug, unstaked and sold 44,539 SOL, bagging $649K in profits. Could they be getting nervous about this market? Who knows, but the plot thickens.

This battle between two whales highlights the split sentiment among the big players. While some whales seem to be cashing in, others are doubling down, convinced there’s more upside. The retail crowd? Well, they’re probably just following the breadcrumbs.

Are Dormant Coins Finally Coming to Life?

Meanwhile, Solana’s Coin Days Destroyed (CDD) just hit its third-highest spike of 2025—3.55 billion, to be exact.

Only February 26 and March 3 saw bigger numbers, and that means dormant SOL tokens are finally waking up from their long slumber. Is it a sign that large, inactive holders are about to make some moves? Maybe. Are they just trying to shake things up? Possibly.

This could be the start of a big market transition. If those dormant coins make their way to exchanges, expect the pressure to rise. Hold on tight!

Are Overconfident Bulls Asking for a Shakeout?

According to Binance, a whopping 75.89% of traders are riding long positions, with the Long/Short Ratio at a shocking 3.15. Overconfidence much?

Meanwhile, short positions have been getting squashed like a bug, with $1.73 million in liquidations compared to a measly $96,000 in liquidations for longs. It’s a classic short squeeze that’s been pushing prices up.

But, of course, overconfidence always comes with a risk: momentum fading. Could a reversal be looming? You bet. Stay tuned.

Is SOL’s Technical Breakdown Inevitable?

Despite a recent price bounce, SOL is still hovering at $148.71, below both its 9-day and 21-day moving averages, which are sitting at $154.91 and $165.31 respectively.

And don’t even get me started on the RSI—it’s languishing at 36.84, basically flirting with the oversold zone. It’s not exactly the picture of strength, folks.

Unless the bulls can pull a miracle and reclaim these key levels, sellers will likely have the upper hand. The bearish crossover on the MA just adds more fuel to the fire.

So, despite the whale staking, the technicals still look a little fragile. Proceed with caution if you’re eyeing any upside targets.

Oh, and did I mention that Open Interest on Solana Futures has dropped by 4.26%, now sitting at $380.16 million? Traders are getting nervous, scaling back their positions. This decline, coupled with the bullish positioning, hints at a possible market slowdown.

Can SOL Break Through the $148–$155 Wall?

According to Binance’s Liquidation Heatmap, SOL has a dense resistance zone between $148 and $155, which could stop the price from going any higher. It’s like trying to drive through traffic—everyone’s stuck, and no one’s moving.

Unless Solana can break through this thick wall of trapped liquidity, upward movement could stall. Traders should be keeping a very close eye on these levels. If they can clear it, the next jump could be swift. If not? Well, we’ll all be waiting for the next twist in the plot.

So, even with all the whale activity and bullish positioning, the technical indicators and resistance zones suggest it’s not time to start celebrating just yet. Those dormant coins moving around? They might be repositioning, not accumulating.

The $155 level is the key—either it’s going to be the rocket launchpad or the lid on this rally. Your move, traders.

Read More

2025-06-07 05:15