Solana ($SOL) is under noticeable selling pressure today, as large holders — often called “whales” — offload significant amounts of the token. After peaking at $186.80, the price has slipped to around $178, signaling a clear shift in short-term momentum.
Red candles have dominated the 15-minute, 1-hour, and 4-hour charts, suggesting sellers are firmly in control for now. This short-term bearish structure is amplified by the latest on-chain data.
Whales Leading the Sell-Off
In just the past 2 hours, the Solana network recorded 146,000 SOL in net outflows from whale wallets — a move often interpreted as preparation to sell on the open market. The total net outflow during this same period reached 162,000 SOL, showing that institutional and high-net-worth traders are adding to the pressure.
When large wallets dump tokens at this scale, it often signals a lack of immediate bullish conviction — and retail traders tend to follow suit.
24-Hour Outlook
Zooming out to the last 24 hours, big wallets have consistently been on the selling side. While overall market sentiment for altcoins remains mixed, Solana’s intraday weakness stands out, especially considering it recently tested the $187 resistance zone.
If selling persists, the next key support levels to watch are:
$175 — short-term support from early August price action.
$172 — a stronger demand zone, with significant previous buying interest.
On the upside, $183–$185 now acts as immediate resistance, and $187 remains a major breakout level for any bullish recovery.
Bottom Line
Solana’s current pullback is driven primarily by whale activity and short-term traders locking in profits. Unless buyer volume picks up quickly, we could see a further dip toward the mid-$170s. However, if the market absorbs the selling pressure and reclaims $185, the bulls might attempt another run toward $190