Solana News: Strategic SOL Repurchase by Major Whale Indicates Potential Market Shift

In the ever-volatile world of cryptocurrencies, major investors, often referred to as ’whales,’ play a pivotal role in shaping market trends. Recent data suggests that one such whale has made a strategic move in the Solana (SOL) market, hinting at a potential shift in the broader market landscape.

A Whale’s Strategic SOL Purchase Signals Market Shift

A major whale has returned to buy SOL assets in the market. The whale made a transaction seven hours ago and bought 50,000 SOL at $6.77 million, which seems to be an ideal time for market entries. From November 20, 2024, to January 21, 2025, this whale sold 122,921 SOL at an average price of $230, and now he has repurchased SOL at a lower price. LookonChain data suggests that the whale took advantage of existing market conditions through this strategic acquisition of SOL.

Whale Unstakes $32.13M in SOL and Deposits $8.27M to Binance

A notable Solana (SOL) holder, often referred to as a “whale,” has unstaked 236,568 SOL, valued at approximately $32.13 million, and deposited 60,050 SOL (worth around $8.27 million) to Binance, one of the leading cryptocurrency exchanges. This action suggests a strategic shift in the whale’s investment positions, which could hint at broader market movements.

Solana Bulls Push For Price Recovery Amid Market Volatility

Solana is showing renewed strength, signaling a potential turnaround after holding above $137 decisively. Buyers are stepping in at key support levels, pushing the price higher and challenging major resistance zones. This shift has sparked Optimism that SOL can sustain its upward push and trigger a full recovery. Despite recent struggles, Solana’s price action suggests that the bulls are not backing down. However, a true breakout will require clearing critical resistance levels. Solana could see a significant rally if buyers maintain control and push past these barriers. Conversely, failure to sustain momentum may lead to another pullback.

Solana’s Potential Price Reversal Hinted by Gaussian Channel Support

Solana has experienced a notable decline of nearly 23% in the past week due to the broader crypto market bearish performance. However, crypto expert Trader Tardigrade identifies a bullish pattern on SOL’s chart, suggesting strong support and potential for an upside momentum. SOL is currently trading close to crucial technical areas that could alter its price trajectory.