Whale Unstaked 100,000 SOL Worth $13.9 Million to Binance
Solana (SOL) has rebounded to approximately $140 after a dip to $97 earlier in the month. On-chain data indicates some investors are realizing profits during this recovery.
- A SOL whale unstaked 100,000 tokens worth $13.9 million after staking nearly a million SOL at $27 four years ago.
- This whale still has over 1.19 million SOL staked, with estimated profits exceeding $153 million.
- The number of wallets holding SOL decreased from 11.11 million to 10.83 million since April 17.
Market Analysis
SOL's price has increased nearly 40% since dipping below the weekly EMA200, currently situated in a critical supply zone between $130 and $145.
An inverse head and shoulders pattern is forming on the daily chart, indicating a potential reversal. Analysts suggest a possible pullback to the $114–$120 support area for consolidation before a breakout.
Price Outlook
The RSI is just under 60, showing bullish momentum without being overbought. Bollinger Bands are widening, suggesting a potential breakout towards the $158–$162 resistance level, which corresponds with the 1D EMA200.
However, weakness in the broader crypto market could lead SOL back to the $95 support level, with further declines possibly reaching the Fibonacci level at $70. Some analysts predict a drop to $80 in the near term.