Solana (SOL) experienced a significant whale transfer involving 439,938 SOL, valued at $56 million, from Coinbase Institutional to an unknown wallet. This movement has fueled speculation about accumulation rather than short-term distribution. Market indicators, such as a falling wedge pattern, double-bottom formation, and improving MACD momentum, suggest a potential reversal for SOL.
Additional factors supporting a rebound include negative netflows and tightening supply pressure, with the price hovering near the $123–$130 support zone. The Long/Short Ratio reveals 80.21% long positions, indicating a bullish sentiment among traders. Market participants are closely watching for a breakout above resistance levels to confirm the anticipated reversal.
Solana Whale Transfer and Market Patterns Indicate Possible Rebound
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