Solana News: Price Surge Supported by Whale Accumulation and Technical Indicators

Solana Surges 2.5% as Whales Accumulate Millions in SOL

Solana rebounded to $146 as whales accumulated $27M SOL, with open interest increasing from $2.2B to $2.7B. Notably, one whale purchased 50,000 SOL worth $6.77M, while another staked 41,096 SOL worth $6.96M, reducing selling pressure. SOL’s RSI hit 68, nearing overbought levels, while MACD confirmed bullish momentum, supporting its price surge. Solana has defended the $125 support level and bounced above $144, signaling renewed confidence among investors. Despite recent volatility, whale buyers are accumulating SOL at reduced prices, highlighting Optimism in Solana’s long-term potential.

Solana Whales Offload Holdings Amid LIBRA Scandal; Investors Turn to RBLK

Recent scandals in the crypto industry, including the LIBRA scandal in Argentina, have led to massive liquidation from Solana investors, causing a decline in trading volume and a drop in the SOL price. Meanwhile, Rollblock’s ongoing presale has been attracting investors with guaranteed gains, raising over $10.7 million in its tenth stage.

Defiance Capital Founder Bought Solana at Discount - SOL Price To Surge In 3 Months

Arthur, the founder of DeFiance Capital, has revealed that he recently acquired Solana (SOL) through an over-the-counter (OTC) transaction at a price of $64. These purchases came at a time when Solana’s price reflected a rise of 5%. According to his statement, he purchased SOL at $64 through Galaxy Digital and has now received the unlocked tokens. Arthur has chosen to hold the tokens despite the price fluctuations in the crypto market.

Solana Price Surge Fueled by Whale Activity

Solana (SOL) experienced a sudden price surge amid market turbulence. As Bitcoin (BTC) struggled to regain ground, Solana defied expectations with a sharp rally, largely driven by substantial whale movements. According to data shared by LookonChain, whale accounts withdrew over $7.5 million worth of SOL from Binance, a leading centralized exchange (CEX), contributing to a rapid increase in Solana’s price and helping it surpass the critical psychological resistance level of $145. However, despite this momentary success, the price struggled to break through subsequent levels.