SOL was sold off by a whale for 9.8 million USD this morning!
This morning, the whale EvBsWC took action again—un-staking 65,000 SOL and transferring it to Binance within 12 hours, bringing the total sales this year to 115 million USD. However, the price of SOL has only oscillated around 152.9 USD without a significant drop, indicating a tense market sentiment.
1. Technical Analysis
BOLL lines are converging: the middle line at 152.7 USD provides short-term support, while the upper line at 153.1 USD shows clear resistance. The price has tested the upper line three times without success, and the amplitude has narrowed to 0.1%. MACD is approaching convergence: DIF and DEA are close to overlapping, with the histogram shrinking to 0.05, indicating both bulls and bears are in a wait-and-see mode.
Volume remains weak: during the rebound, trading volume did not increase proportionately. If the support level of 146 USD is broken, it may trigger stop-loss selling around 140 USD.
2. Whale withdrawals coexist with retail investors taking over
This month, the SOL ecosystem welcomed good news: the staking ETF raised 32 million USD on its first day, and on-chain TVL rose to 4.25 billion USD. However, whale activity remains frequent—on the 7th, 580,000 SOL flowed into Coinbase, and this morning another 9.8 million USD was sold off. Contradictory signals are emerging:
Net inflow to exchanges is 4.2 million USD, but prices have not collapsed, suggesting stronger retail investor support. The long-short position ratio is imbalanced, with shorts dominating, but caution is needed regarding short-squeeze risks.
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