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Solana is showing signs of strength after weeks of heightened volatility and aggressive selling pressure. As the broader crypto market stabilizes amid ongoing macroeconomic uncertainty and global trade tensions, Solana has managed to inch closer to a critical resistance level. Despite the risks still looming, especially with trade war rhetoric between the US and China escalating, some market participants believe the conditions are aligning for a potential recovery rally.
Adding weight to that view, recent on-chain data from Glassnode reveals a subtle yet notable shift in whale activity. The number of wallets holding more than 10,000 SOL has increased by 1.53% over the past week, rising from 4,943 to 5,019.
This uptick suggests that larger holders may be accumulating ahead of a possible breakout, interpreting current price levels as favorable entry points. Historically, such accumulation phases have preceded strong upward moves, particularly when combined with technical recovery signals and improving market sentiment.
Whether Solana can break through resistance and sustain a recovery remains uncertain, but the growing whale interest paints a cautiously optimistic picture for the days ahead.
Whale Accumulation Grows As Bulls Regain Momentum
Solana has been one of the hardest-hit assets during the recent market downturn. Since peaking in January, SOL has lost over 65% of its value, reflecting deep investor uncertainty and heightened selling pressure. As macroeconomic tensions between the US and China continue to grow, global markets have shifted toward a risk-off sentiment, with high-volatility assets like Solana taking the brunt of the damage. However, there may now be signs of relief.
A possible resolution in the ongoing trade dispute and improving liquidity conditions are breathing fresh life into the broader altcoin market. In Solana’s case, the recovery narrative is gaining support from on-chain metrics. According to data shared by top analyst Ali Martinez on X, the number of wallets holding over 10,000 SOL has increased by 1.53% over the past week, rising from 4,943 to 5,019. This subtle but notable uptick in large-holder activity suggests growing institutional or whale confidence in Solana’s long-term potential.
Solana Number of Addresses With Balances > 10K | Source: Ali Martinez on XThis accumulation trend, paired with rising momentum among bulls, could mark the beginning of a shift in sentiment after weeks of relentless pressure. If global risk appetite improves and Solana can hold key support zones, this whale behavior could lead to a sustained rebound in price.
Solana Tests Key Resistance As Investors Aim For A Recovery
Solana (SOL) is currently trading at $140, just below a critical resistance zone that has capped price advances for weeks. After showing signs of strength in recent sessions, bulls are now attempting to push SOL above the $150 level—a key threshold that, if broken, could quickly propel the price toward the $180 mark. The current momentum is being closely watched, as reclaiming this resistance would signal a trend reversal and provide the foundation for a stronger bullish recovery.
To confirm an uptrend, SOL must break and hold above the $150 mark and then target the 200-day moving average, currently acting as a dynamic resistance. A decisive move above the 200-day MA would indicate a shift in sentiment and reinforce Solana’s breakout potential in the near term.
However, if bulls fail to reclaim and defend these levels, bearish pressure could return. A rejection at current prices would likely open the door for a retest of lower demand zones. Losing support around the $125 level could take SOL back to $100—a level that previously served as a strong support during earlier selloffs. The next few days will be pivotal for determining Solana’s short-term trajectory.
Featured image from Dall-E, chart from TradingView
Sebastian’s journey into the world of crypto began four years ago, driven by a fascination with the potential of blockchain technology to revolutionize financial systems. His initial exploration focused on understanding the intricacies of various crypto projects, particularly those focused on building innovative financial solutions. Through countless hours of research and learning, Sebastian developed a deep understanding of the underlying technologies, market dynamics, and potential applications of cryptocurrencies.
To share his insights with others, Sebastian became an active contributor to online discussions on platforms like X and LinkedIn. His focus on fintech and crypto-related topics quickly established him as a trusted voice in the online crypto community. Sebastian’s goal was to educate and inform his audience about the latest trends and insights in the rapidly evolving crypto landscape.
To further enhance his expertise, Sebastian pursued a UC Berkeley Fintech: Frameworks, Applications, and Strategies certification. This rigorous program equipped him with valuable skills and knowledge regarding Financial Technology, bridging the gap between traditional finance and decentralized finance. The certification deepened his understanding of the broader financial landscape and its intersection with blockchain technology.
Sebastian’s passion for finance and writing is evident in his work. He enjoys delving into financial research, analyzing market trends, and exploring the latest developments in the crypto space. In his spare time, Sebastian can often be found immersed in charts, studying 10-K reports, or engaging in thought-provoking discussions about the future of finance.
Sebastian’s journey as a crypto pioneer has been marked by a relentless pursuit of knowledge and a dedication to sharing his insights. His ability to navigate the complex world of crypto, combined with his passion for financial research and communication, makes him a valuable contributor to the industry. As the crypto landscape continues to evolve, Sebastian remains at the forefront, providing valuable insights and helping to shape the future of this revolutionary technology.
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