Solana Sees 1.53% Increase in Whale Wallets Amid Price Recovery Efforts

Solana is experiencing increased strength after a period of volatility and selling pressure, nearing a critical resistance level as the broader crypto market stabilizes amid macroeconomic uncertainty. Key points include:

Whale activity has increased, with wallets holding over 10,000 SOL rising by 1.53% from 4,943 to 5,019.
This accumulation suggests larger holders may view current prices as favorable for entry, potentially indicating a recovery rally.
Since its peak in January, SOL has lost over 65% of its value due to market downturns influenced by US-China trade tensions.
If conditions improve, this trend could lead to a rebound in price, supported by growing whale confidence.

Current Trading Context

SOL is trading at approximately $140, just below a crucial resistance zone. Investors are aiming for a breakout above $150, which could propel the price towards $180. Key elements include:

To confirm an uptrend, SOL needs to break and hold above $150 and then target the 200-day moving average.
A decisive move above the 200-day MA would signal a potential trend reversal.
If bulls fail to reclaim these levels, there is a risk of retesting lower demand zones, particularly around $125, which could lead to further declines.

The upcoming days are essential for determining Solana's short-term outlook.