Whale behavior in the Solana market causes another ruckus, but in a good way. The value of the token climbed 9%and reached around $ 137. A large number valid people“Whales” that they are called stores huge amounts of Solana Crypto. Technical signals suggest a strong momentum and the growing of open interest, in which traders are glued on their main screens or PC screens.
Whale is investing millions of dollars in Sol
A large investor bought 50,000 Sol, worth almost $ 7 million, according to data from Lookonchain. There were other whales that turn 41,096 Sol, or $ 6.90 million. By reducing the amount of delivery that is currently in use, this purchase activity can help stabilize prices.
This type of whale appetite is not new for Solana. Historically, important acquisitions have resulted in price peaks and traders expect this trend to continue.
Whales collect $ Sol!
Ahdumw … QMNJ withdrew 54,544 $ Sol($ 7.46 million) of #Binance 2 hours ago.
7I6FUR … KP5J withdrew 41,096 $ Sol($ 6.96 million) of #Binance 1 hour ago and deployed.https://t.co/CVCPGVEKARhttps://t.co/KSY2F5UZBAhttps://t.co/UewsxSNflr pic.twitter.com/pca0mgedju
– Lookonchain (@lookonchain) February 28, 2025
The open interest in Solana Futures has risen from $ 2.2 billion to $ 2.7 billion, indicating that players with leverage remain interested. The relative strength index is approaching the Overboughtzone, because the advancing average convergence -divergence flashes a strong signal.
There are technical signs that support the upward trend. After he has gone up to 68, the RSI is now close to the zone where the prices are too high. Some traders may think that it will fall if it breaks above 70 Mark.
The MACD indicates that the buying momentum remains robust. Traders often use this to determine whether an active potential has for further growth or whether a reversal is imminent.
Historical whale recording and SOL -Price increases
Whale activity has traditionally been an important factor in the Solana price movement. SOL In November 2024, a peak of all -time $ 262 reached as a result of a purchase of $ 35 million from token through whales in just two days.
Since the end of October 2024, a single whale has collected more than 257K Sol, for an amount of almost $ 54 million. This has contributed to the market capitalization of Solana that exceeded $ 100 billion, making it one of the most prominent altcoins on the market.
The way for us for Sol
The short -term provision of Solana is favorable because whales continue to increase their participations and there is increasing interest. Traders must keep an eye on instructions of a possible correction when the RSI overbought area approaches.
Currently, the Bullish Momentum is unabated, and as trends from the past indicate, whale recording could indicate more upward movement. Solana’s ability to maintain this trend depends on the duration of the purchasing pressure and the inflow of new investors.
Featured image of ASA-Leb, Graph of TradingView
Credit : www.newsbtc.com
