On June 3, 661,113 SOL were transferred, valued at 106 million dollars. This massive movement between two anonymous wallets immediately stirred the crypto circles. For some, it heralded a crash, for others a reset.
The price of Solana reacted immediately. After a drop below 150 dollars, the crypto touched a technical support at 140 dollars. Since then, a bounce is anticipated. According to analysts, the next resistance is at 160 dollars. This could validate a bullish turn.
"The price of Solana bounced from the lower Bollinger band and the 50% Fibonacci retracement," explains a technical analysis report. The 140 dollar zone has already played that role of support several times.
From a fundamental perspective, there is no specific factor explaining this transfer. But the psychological effect on the market remains powerful. In this climate, Ethereum remains the benchmark indicator. And although Ethereum was not directly impacted, contagion remains possible.
The crypto market remains sensitive to whale movements. Monitoring these transactions becomes essential to understand future shocks. Ethereum, Solana, and other major tokens often react by mimetic effect.
On June 4, the crypto market experienced a wave of liquidations, but none as violent as that of XRP. In one hour, an explosion of 721,735% in long liquidations swept away 474,000 dollars from bullish positions. This brutal movement transformed a simple rise into a bloodbath.
XRP briefly rose from $2.27 to $2.36, before falling below $2.29 – it is currently at $2.26.