Breakout Imminent? Whale Activity Fuels Bullish Outlook!
Solana ($SOL ) has recently captured renewed market attention following the movement of 17,481 SOL to Kraken by a large whale wallet. Although SOL is currently trading at $148.52, down 1.74% over the past 24 hours, retail sentiment remains notably positive while institutional investors maintain a cautious stance.
On-chain metrics reveal that Solana’s development activity remains consistently strong, and social volume surrounding the network is surging. This suggests that the current momentum is not merely a short-term rebound but may be part of a larger structural bullish trend.
🔍 Chart Analysis Summary
Key Support: $140
Immediate Resistance: $150, followed by $158–$160
RSI (4H chart): Ranging around 52–55, showing room for further upside
MACD (4H chart): Approaching a bullish crossover (golden cross)
On the 4-hour chart, SOL has bounced strongly from the $140 support zone and is now repeatedly testing the $145–$150 resistance range. Volume is steadily increasing with each retest, signaling an ongoing accumulation phase.
Importantly, the RSI indicator remains below the overbought threshold, implying additional upside potential, while the MACD is on the verge of confirming a bullish crossover, typically a strong buy signal in technical analysis.
🎯 Trading Strategy Suggestion
Bullish Scenario (Breakout Strategy):
Enter on a confirmed breakout above $150 with strong volume
Target Levels: $158–$160 initially, then $165
Stop Loss: Below $147
Bearish Scenario (Retracement Strategy):
If $145 support fails, consider partial buys near $140
Watch for further support confirmation around $137
Stop Loss: Below $134
Risk Management:
Given the elevated market volatility, position sizing should be limited to 2–3% of the total portfolio per trade.
This is not financial advice. Please do your own research before investing.
