Solana Takes Center Stage: Can SOL Break $145 Amid Whale Buying?
Solana (SOL) continues making waves in the cryptocurrency world as a recent $28 million whale buy shakes up its market dynamics. A newly created wallet absorbed 200,001 SOL tokens from Binance, significantly reducing the circulating supply and spurring strong bullish sentiment. This strategic move adds fuel to speculation about whether Solana can break through its $145 resistance point and enter a sustained upward trend.
Whales Signal a Bullish Sentiment
Whales—large investors often acting as trendsetters—appear to be doubling down on Solana’s potential. Such aggressive accumulation, combined with withdrawals directly from centralized exchanges like Binance, suggests a growing demand for SOL amidst a shrinking supply. Currently trading near the upper boundary of a strong accumulation zone between $126 and $145, signs of a breakout are emerging.
Traders and analysts are watching closely. Higher lows forming in Solana’s chart indicate potential structural growth. A confirmed break above $145 could trigger a price rally toward its next liquidity cluster at $168, further solidifying the bullish case.
Indicators Reveal Strength Beneath the Surface
Key indicators like the MACD (Moving Average Convergence Divergence) are gradually showing bullish momentum. At the time of writing, the MACD line climbed above the signal line, signaling improving buyer control over short-term price movement. Likewise, Solana’s accumulation zone maintains stability as buyers absorb selling pressure, particularly in futures markets. Metrics like Taker Buy CVD (Cumulative Volume Delta) hint at confidence among investors building long-term positions.
Decentralized exchange (DEX) activity is another cornerstone of Solana’s current strength. Over the past 24 hours, Solana’s DEX volume surged to $3.8 billion, with a weekly figure of $24.6 billion—a 12.76% increase. The shift toward DEX dominance (currently at 16.11%) supports the ecosystem’s liquidity and diversity, reflecting organic growth beyond speculative trading.
Implications for the Broader Market
Solana’s resilience against short sellers is another bullish factor. Recent data reveals $293,020 in short liquidations compared to $132,340 for long positions. This imbalance shows that short sellers are frequently trapped as SOL’s price holds firmly near $138—setting the stage for a potential upward breakout. If this accumulation transition successfully turns into a markup phase, Solana could see a prolonged upward trajectory.
Recommended Product Mention
For those keeping an eye on the crypto market, tracking price movements like Solana’s is crucial. Consider using the Ledger Nano X, a secure hardware wallet perfect for storing SOL and other cryptocurrencies. With increased security and direct DEX integration capabilities, it’s an essential tool for both seasoned traders and newcomers.
Final Thoughts
While Solana faces resistance at $145, the growing confluence of strong indicators, whale activity, and increasing DEX engagement creates a constructive environment for potential bullish expansion. If traders maintain this momentum, Solana could transition into a long-term upward trend, leaving behind its current accumulation zone and reinforcing its place among the most exciting projects in the market.
