{"id":4025,"date":"2025-04-11T05:00:31","date_gmt":"2025-04-11T05:00:31","guid":{"rendered":"https:\/\/ad-doge.com\/blog\/solanas-110-test-bullish-reversal-or-whale-driven-fade\/"},"modified":"2025-04-11T05:00:31","modified_gmt":"2025-04-11T05:00:31","slug":"solanas-110-test-bullish-reversal-or-whale-driven-fade","status":"publish","type":"post","link":"https:\/\/ad-doge.com\/blog\/solanas-110-test-bullish-reversal-or-whale-driven-fade\/","title":{"rendered":"Solana\u2019s $110 Test: Bullish Reversal Or Whale-Driven Fade?"},"content":{"rendered":"

Solana has been able to remain above the key $110 price level even as big investors offload millions worth of tokens. The cryptocurrency is now trading at $114,<\/a> registering a daily increase of 7.6% in the midst of a broad-based fear in the altcoin market.<\/p>\n

Big Investors Abandon Ship As Market Wobbles<\/h2>\n

A number of key Solana holders have lost faith in the token’s near-term prospects. Blockchain analytics indicate that a whale (“4W1Ree”) unstaked 159,028 SOL tokens worth $16.5 million. The investor has already sold 60,000 of them for $6.13 million at an average price of $102.<\/p>\n

\n

Whales are dumping $SOL<\/a>!<\/p>\n

4W1Ree unstaked 159,028 $SOL<\/a>($16.5M) and sold 60,000 $SOL<\/a>($6.13M) at $102 4 hours ago.<\/p>\n

5cPair sold 89,734 $SOL<\/a>($9.67M) at $108 14 hours ago.https:\/\/t.co\/i2sVNng50n<\/a>https:\/\/t.co\/hJwIowTBPl<\/a> pic.twitter.com\/XLhXsLxHft<\/a><\/p>\n

\u2014 Lookonchain (@lookonchain) April 9, 2025<\/a><\/p>\n<\/blockquote>\n

Yet another significant holder named “5cPair” offloaded close to 90,000 SOL tokens amounting to around $9.7 million, receiving an average of $108 per token. OnChainLens<\/a> blockchain data also revealed that three interrelated wallets unstaked 168,498 SOL worth $17.86 million after being on the books for two months, taking an $11.38 million hit on their investment.<\/p>\n

\"\"<\/p>\n

Platform Activity Adds To Selling Pressure<\/h2>\n

The offloading is not just limited to individual traders. According to recent transactions, Pump.Fun platform transferred 84,350 SOL tokens (valued at $9.3 million) to Kraken exchange. Since January 2025, the platform has already offloaded a whopping 1.72 million SOL tokens worth $310 million to exchanges. Pump.Fun currently has 3.24 million SOL tokens remaining, worth around $360 million at today’s prices.<\/p>\n

\"\"
\nTechnical Patterns Indicate Signs Of Reversal<\/p>\n

Even though there has been intense selling, some analysts are optimistic regarding Solana’s price trend. The cryptocurrency adheres to a growing falling-channel pattern on day charts. The recent decline reached a low of $95.16 on April 7, but buyers swiftly intervened to restore the price above $100.<\/p>\n

Today’s Relative Strength Index (RSI) also is now on the cusp of oversold levels, indicating a possible bounce. Some analysts are saying Solana just bounced off of a multi-year support trendline that set off a 1,000% bounce when tested in Q3 2023.<\/p>\n

Analysts Set Key Price Targets For Coming Weeks<\/p>\n

Market observers have pointed to key price levels that will decide Solana’s next direction. The TD sequential indicator has flashed a buy signal<\/a> on SOL’s weekly chart, says analyst Ali Martinez. Solana needs to hold above $95 and break above $120 to initiate a significant recovery, Martinez believes.<\/p>\n

\"\"<\/p>\n

If these levels are held, Solana may look to $147 in the near future. If the $95 support fails, though, prices may plummet towards $69.94, the analyst said.<\/p>\n

The cryptocurrency is now trading between the center pivot level of $114 and the S1 pivot level of $94.29.<\/p>\n

Prediction<\/a> site Polymarket indicates mixed sentiment, with 20% of participants believing SOL will fall to $80 in April, and 21% that it will reach $150.<\/p>\n

Featured image from Marca, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Solana has been able to remain above the key $110 price level even as big investors offload millions worth of tokens. The cryptocurrency is now trading at $114, registering a daily increase of 7.6% in the midst of a broad-based fear in the altcoin market. Big Investors Abandon Ship As Market Wobbles A number of…<\/p>\n","protected":false},"author":1,"featured_media":4026,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[219],"tags":[220,12,51,174,109,177,489],"class_list":["post-4025","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin","tag-altcoin","tag-altcoins","tag-crypto","tag-sol","tag-solana","tag-solusd","tag-whales"],"_links":{"self":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/4025","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/comments?post=4025"}],"version-history":[{"count":0,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/4025\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media\/4026"}],"wp:attachment":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media?parent=4025"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/categories?post=4025"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/tags?post=4025"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}