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Solana has been able to remain above the key $110 price level even as big investors offload millions worth of tokens. The cryptocurrency is now trading at $114, registering a daily increase of 7.6% in the midst of a broad-based fear in the altcoin market.
Big Investors Abandon Ship As Market Wobbles
A number of key Solana holders have lost faith in the token’s near-term prospects. Blockchain analytics indicate that a whale (“4W1Ree”) unstaked 159,028 SOL tokens worth $16.5 million. The investor has already sold 60,000 of them for $6.13 million at an average price of $102.
Whales are dumping $SOL!
4W1Ree unstaked 159,028 $SOL($16.5M) and sold 60,000 $SOL($6.13M) at $102 4 hours ago.
5cPair sold 89,734 $SOL($9.67M) at $108 14 hours ago.https://t.co/i2sVNng50nhttps://t.co/hJwIowTBPl pic.twitter.com/XLhXsLxHft
— Lookonchain (@lookonchain) April 9, 2025
Yet another significant holder named “5cPair” offloaded close to 90,000 SOL tokens amounting to around $9.7 million, receiving an average of $108 per token. OnChainLens blockchain data also revealed that three interrelated wallets unstaked 168,498 SOL worth $17.86 million after being on the books for two months, taking an $11.38 million hit on their investment.
Platform Activity Adds To Selling Pressure
The offloading is not just limited to individual traders. According to recent transactions, Pump.Fun platform transferred 84,350 SOL tokens (valued at $9.3 million) to Kraken exchange. Since January 2025, the platform has already offloaded a whopping 1.72 million SOL tokens worth $310 million to exchanges. Pump.Fun currently has 3.24 million SOL tokens remaining, worth around $360 million at today’s prices.
Technical Patterns Indicate Signs Of Reversal
Even though there has been intense selling, some analysts are optimistic regarding Solana’s price trend. The cryptocurrency adheres to a growing falling-channel pattern on day charts. The recent decline reached a low of $95.16 on April 7, but buyers swiftly intervened to restore the price above $100.
Today’s Relative Strength Index (RSI) also is now on the cusp of oversold levels, indicating a possible bounce. Some analysts are saying Solana just bounced off of a multi-year support trendline that set off a 1,000% bounce when tested in Q3 2023.
Analysts Set Key Price Targets For Coming Weeks
Market observers have pointed to key price levels that will decide Solana’s next direction. The TD sequential indicator has flashed a buy signal on SOL’s weekly chart, says analyst Ali Martinez. Solana needs to hold above $95 and break above $120 to initiate a significant recovery, Martinez believes.
If these levels are held, Solana may look to $147 in the near future. If the $95 support fails, though, prices may plummet towards $69.94, the analyst said.
The cryptocurrency is now trading between the center pivot level of $114 and the S1 pivot level of $94.29.
Prediction site Polymarket indicates mixed sentiment, with 20% of participants believing SOL will fall to $80 in April, and 21% that it will reach $150.
Featured image from Marca, chart from TradingView
They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!
So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.
Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.
Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
