Whale’s $14M SOL Move: A Dip in Solana’s Future?

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Ah, the eternal dance of Solana. It rebounds like a wayward boomerang, slapping us with a $140 price tag after a brief, dramatic dive to $97 earlier this month. But here’s the twist—some investors seem to be packing their bags, taking profits and making a graceful exit. 👋

On April 22, LookOnChain reported something particularly juicy. A Solana whale, the kind of creature who staked almost a million SOL at the humble price of $27 four years ago, recently unstaked 100,000 SOL. Worth a tidy $13.9 million, the whale promptly sent it over to Binance. A classic move to cash out… or maybe brace for a storm. 🤔

After 4 years of staking, this whale unstaked 100K $SOL($13.9M) 2 hours ago and deposited it to #Binance.

Back then, he staked 991,079 $SOL at around $27.

He still has 1.19M $SOL($166.37M) staked, with total profits of over $153M.

— Lookonchain (@lookonchain) April 22, 2025

Yes, it’s true—the whale still holds a staggering 1.19 million SOL, with unrealized gains of $153 million. Someone’s going to need a bigger yacht. 🛥️ Meanwhile, the number of wallets holding SOL has dropped from 11.11 million to 10.83 million since April 17, suggesting retail interest might be… well, waning a bit. A shrinking crowd, perhaps? 😶‍🌫️

A Strong Reversal Setup

Now, Solana’s price has been doing a little jig—up nearly 40% since a flirtation with the weekly EMA200. It now sits squarely in the local supply zone between $130 and $145, a space that has historically acted like a stubborn gatekeeper: both resistance and support. It’s like trying to get into an exclusive club with no invitation. 🎩

But wait—there’s more! A potential inverse head and shoulders (IH&S) pattern has begun to form on the daily chart since March, which could mean a reversal is in the works. And yes, dear reader, that’s generally considered a solid signal for a trend reversal. The price is currently testing the neckline resistance, like an overconfident student facing an exam. 📝

Analysts at CryptoVIPSignal on X have suggested that a pullback to the $114–$120 support area might be in the cards. Sounds like a perfect spot for some bargain hunters to show up. But don’t get too comfy; a breakout could be just around the corner. 😏

$SOL Analysis:

The #price is forming an Inverse Head & Shoulders (IH&S) pattern on the daily time frame. There is a high likelihood that we will see a move towards the support area for further #accumulation. Currently, the price is at the resistance area. Consider adding some…

— Crypto VIP Signal™ (@CryptoVIPsignal) April 22, 2025

SOL Price Outlook

For those keeping an eye on Solana’s chart, the RSI currently sits just under 60, showing an upward trend. But don’t get too carried away—it’s not yet in overbought territory. There’s still room for growth. 📈

SOL price chart | Source: Trading View

Meanwhile, the Bollinger Bands are expanding, with the price near the upper band, hinting at a potential breakout. If that happens, we might be looking at a swift move towards the $158–$162 resistance area. This level lines up with the 1D EMA200, a place where reversals have been known to occur—like a guest at a party who leaves the moment you start having fun. 🥳

On top of that, a steady climb in the MACD histogram and a bullish crossover suggests that upward momentum might just be here to stay. But, of course, nothing is ever simple in crypto.

SOL price chart | Source: Trading View

However, as always, there’s a dark cloud on the horizon. If the broader crypto market catches a cold, SOL might revisit the $95 support. A break below that level could lead it to the 0.786 Fibonacci level at $70. Sri Phoenix, the ever-optimistic analyst, recently predicted a drop to $80. Guess we’ll see who’s right. 📉

$SOL is going to $80.

Bookmark this.

— Sri (@sri_phoenix) April 21, 2025

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2025-04-22 16:13