Solana Whale Activity Sparks Market Speculation as Price Eyes $200

Solana (SOL) has captured market attention after two large whale transactions moved a total of 1,388,655 SOL—worth approximately $235.4 million—between unidentified wallets, according to Whale Alert. While the transactions weren’t directed to an exchange, the movements hint at potential redistribution, raising questions about the whales’ next moves.

Such significant transfers can often signal an intent to sell, secure, or reorganize holdings, and investors are closely monitoring whether follow-up actions will lead to increased volatility or upward momentum. The timing of the transactions is notable, as Solana remains range-bound between $160 and $175, struggling to establish strong support above $175 to make a push toward $180.

At the time of writing, SOL is trading at $171.84, showing a 3.27% 24-hour gain despite a 5.77% dip in trading volume to $3.59 billion. This divergence between price and volume suggests cautious optimism among traders, with many looking toward broader crypto market trends—especially Bitcoin’s rally—as a possible catalyst for a breakout.

Technical indicators offer mixed signals. While short-term exponential moving averages, including the 26-day EMA, suggest bullish momentum, the 200-day Simple Moving Average remains a major resistance level at $181. A successful break above this threshold could pave the way for Solana to challenge the $200 mark.

Market sentiment remains generally bullish, but all eyes are on whether the recent whale movements signal strategic accumulation or foreshadow a potential sell-off. Either way, Solana’s price trajectory in the coming days may hinge on investor confidence and macro market momentum.