Sep 17, 2025
5 2
Solana Sees Institutional Accumulation: 413,075 SOL Moved Off Exchanges
Solana has experienced a significant rally, increasing over 50% since August and reaching $248. This movement highlights bullish sentiment, driven by technical strength and institutional interest.
- Solana's gains are supported by institutional accumulation, indicating long-term positioning by large investors.
- Lookonchain data reveals FalconX withdrew 413,075 SOL (approx. $98.4 million) from major exchanges, signaling potential accumulation and supply reduction.
- This accumulation could lead to upward price pressure if demand persists.
Macroeconomic factors, including the Federal Reserve's upcoming decision on interest rates, may influence Solana's trajectory. The Fed's actions will impact liquidity conditions, affecting market sentiment.
Testing Key Levels After A Rally
- Solana reached $248 but is consolidating at $236 after its sharp rise.
- The uptrend remains strong with key support from moving averages: 50-day SMA ($197), 100-day SMA ($178), and 200-day SMA ($161).
- Resistance near $240 could trigger a short-term pullback if not overcome.
Continued institutional demand and favorable macro conditions could propel Solana toward new highs, provided resistance levels are breached.