Solana The price has fallen below the crucial $100 level, and its short-term rebound is at risk as large holders transfer millions of dollars worth of tokens. Within three days, over 482,228 SOL tokens, amounting to approximately $49.17 million, have flowed into exchanges. Traders are watching whether these large-scale transactions will put further pressure on the already weakening price trend.
Solana Giant Whale Transfers $49 Million SOL: Is the Selling Pressure Rising?
As it has become difficult for this token to hold its recent support levels, large transfers of SOL have added another layer of concern for traders. According to on-chain data, three wallets suspected to belong to the same whale investor transferred 482,228 SOL tokens within three days, worth approximately $49.17 million. Of these, 171,430 SOL tokens, valued at around $17.3 million, have been deposited into exchanges. The status of the remaining 310,798 SOL tokens as of the time of this report has not yet been confirmed whether they have also been deposited into exchanges.
Storing tokens on an exchange may imply potential selling pressure, as the tokens become more readily tradable. However, the transfer alone does not confirm that these assets have been sold, and it has not yet been definitively verified whether these wallets indeed belong to the same owner.
Solana Price Analysis: SOL Has Fallen Below $100, Key Support Weakens
If SOL reclaims $100 and further breaks through the resistance range of $102 to $105 nearby, it may indicate that buyers are regaining control in the short term. If it can remain stable within this range, it will help to stabilize the chart trend, although there is still resistance above.
On the downside, if the price clearly breaks below the support range of $97 to $98, SOL could further fall to $93 to $96. If selling pressure continues to accelerate in that range, traders may pay attention to even lower support levels. If large-scale transfers by whales ultimately result in actual sales, it could increase the pressure, but this risk still needs to be confirmed by price trends and exchange capital flows.
Solana Will it return to $100, or will it fall to $95?
The short-term outlook for Solana depends on its ability to regain $100 and hold that level of support. If it rebounds to between $102 and $105, that would improve the short-term technical outlook; however, if it continues to remain below $97 to $98, then the range of $93 to $96 might come into focus.
Traders should pay attention to whether more SOL will flow into the exchange, as well as whether buyers will enter near the support level. Currently, $100 remains a key psychological barrier. If it cannot regain this level, SOL may face a new round of decline; however, if it can continue to rebound, it could alleviate some of the current bearish pressure.
