Kraken Market Watch: Solana Whales Trigger 4% Dip Amid $300 Bullish Outlook

Solana (SOL) experienced a 4% price drop as significant whale movements transferred $40 million worth of tokens to exchanges, raising short-term market concerns. Blockchain analytics identified three major holders moving 226,000 SOL, potentially indicating profit-taking or strategic repositioning. Despite the sell-off, technical analyst Jireon highlights strong support along SOL's 2020 trendline, maintaining a bullish $300 target. This development underscores the dynamic interplay between whale activity and long-term investor confidence in Solana's market trajectory.

Solana Price Dips 4% Amid Whale Transfers, Analysts Remain Bullish on $300 Target

Solana (SOL) faced a 4% price decline as whales moved $40 million worth of tokens to exchanges, sparking short-term market concerns. Blockchain data reveals three major holders transferred 226,000 SOL, signaling potential profit-taking or strategic repositioning.

Despite the sell pressure, technical analyst Jireon identifies robust support along SOL's 2020 trendline, projecting a path toward $300 with a long-term $1,000 target. The token currently trades at $175.67 with $16.2 billion in 24-hour volume, reflecting temporary weakness amid strong fundamentals.

Lookonchain reports notable deposits to Kraken and other platforms, including a single 96,996 SOL ($17.45M) transfer. Market participants are watching whether this liquidity absorption will catalyze a deeper correction or present a buying opportunity before the next leg up.

Bitcoin Eyes $125K as Bullish Momentum Holds Despite Pullback

Bitcoin's rally toward $122,250 met with profit-taking, but analysts see potential for another push toward $125,000. The cryptocurrency remains firmly above $118,000, supported by institutional ETF inflows and strong technical indicators.

Key resistance levels loom at $119,250 and $120,500—breaching these could reignite upward momentum. Market sentiment stays bullish as BTC holds above its 100-hour moving average, suggesting underlying strength despite short-term consolidation.