Key Takeaways

What does the whale transfer mean for Solana?

A $95 million inflow to Coinbase pressured sentiment, yet cooling DMI, ADX, and Parabolic SAR showed easing bearish momentum.

How are fundamentals supporting SOL’s resilience?

Spot Taker Buy Dominance, Network Growth rebounding to 1 million addresses, and Social Dominance at 5.5% supported long-term strength.

A transfer of 459,823 Solana [SOL] worth over $95 million to Coinbase has raised doubts about the altcoin’s short-term outlook. 

Such large whale inflows to exchanges often increase the risk of selling pressure, especially when occurring during critical phases of price consolidation. 

Even so, Solana still traded inside a broad ascending channel, maintaining structural support despite the Coinbase transfer.

That left traders asking whether broader technical and on-chain conditions could offset near-term volatility.

Solana price holds its channel as bearish signals cool

Solana continued trading inside a rising channel, with support at $206.46 and resistance near $258.49. Momentum indicators showed weakening bearish strength.

At press time, the DMI placed the -DI line above the +DI, confirming sellers held the edge. However, both lines cooled alongside a softening ADX, showing that bearish dominance was easing.

On top of that, the Parabolic SAR, positioned above price, edged closer to flipping beneath candles. That shift suggested cooling momentum and reduced downside pressure.

Can spot accumulation outweigh whale-driven risks?

Despite whale transfers raising alarms, Spot market data revealed continued strength on the buy side. The 90-day Cumulative Volume Delta (CVD) reflected consistent taker buy dominance.<

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Author: Evans Boto