- A longtime Solana whale has unstaked over $25M in SOL since April, transferring massive chunks to Binance however nonetheless holding $168M staked—sparking hypothesis with out clear indicators of promoting but.
- SOL is bouncing between key ranges ($140–$176), with bullish patterns forming on the every day chart, together with a double backside and V-shaped restoration that trace at a possible breakout.
- Elliott Wave evaluation suggests SOL could also be getting into wave 5, typically the strongest section; a breakout above resistance may sign a push towards new all-time highs if momentum holds.
Solana’s again within the highlight—and never simply due to worth charts. A large whale that’s been sitting on SOL for years has began shifting critical quantities of tokens round. In response to Onchain Lens, this long-time holder simply unstaked 50,017 SOL (about $7.5M) on June 8 and despatched the identical chunk straight to Binance. And that wasn’t even a one-off—the day earlier than, they moved one other 25,008 SOL, price round $3.7M.
In whole, the whale has been shifting lots currently. Since April, they’ve unstaked 175,062 SOL—that’s over $25 million in worth. All of it had been locked up for 4 years, so clearly, this isn’t just a few random sell-off. Apparently, the whale nonetheless holds a giant stash—1.12 million SOL nonetheless staked, price roughly $168 million. So yeah, they’re not precisely cashing out fully, however persons are watching carefully to see what they do subsequent.
Solana Holds the Line Whereas Bulls Check the Waters
Proper now, SOL’s hanging round $149 on the weekly chart, simply bouncing between key zones—resistance up at $176.99 and help sitting tight at $140.87. It’s kinda in limbo, technically impartial, however the setup’s acquired breakout vibes. Push above that $176 mark, and it’d simply rip. Fall underneath $140, although, and that bullish dream may unravel quick.
On the every day chart, issues look a little bit extra hopeful. SOL has reclaimed the $141 demand zone and even shaped a double backside—a basic signal of potential power. The value appears to be carving out a pleasant V-shape restoration. If it might probably crack $152 once more with some strong momentum behind it, a push to retest that $176 degree appears greater than seemingly.
All Eyes on Wave 5—May We Be Heading for New Highs?
Right here’s the place issues get a bit extra technical: Elliott Wave analysts suppose SOL would possibly’ve wrapped up its long-drawn-out wave 4. In the event that they’re proper, we’re within the early phases of wave 5—and that’s the one the place issues normally pop off. The chart suggests we’re proper inside wave 2 of that closing leg, and if the $140–$150 space holds, wave 3 (usually the strongest) may kick off quickly.
Momentum-wise, the RSI’s fairly impartial—not too scorching, not too chilly—so there’s positively room for motion. However the wildcard stays the macro image and, in fact, what that whale decides to do subsequent. Nonetheless, if SOL breaks above near-term resistance, that might affirm a full-blown bullish transfer heading deeper into June. One to keep watch over, little question.