Solana (SOL) price has experienced significant volatility in recent days as it faces key technical challenges. After reaching a new all-time high on January 19, SOL has pulled back 14.5%, though it maintains a 16.7% gain over the past seven days.
Technical indicators suggest the strong uptrend is losing momentum, with key support and resistance levels likely to determine the next major price move. The growing number of whale addresses holding large SOL positions indicates strong institutional interest, despite the recent price correction.
SOL Whales Are Reaching All-Time Levels
Solana whales have reached historic levels, with addresses holding 10,000+ SOL peaking at 5,137 three days ago before slightly declining to 5,128.
Tracking these large holders is crucial for market analysis since whales can significantly impact price movements through their trading decisions and often represent institutional players whose actions can signal broader market sentiment and potential price trends.
The current elevated whale count, which jumped from 5,054 on January 17 to 5,128 in just six days, suggests strong institutional confidence in SOL despite the minor recent decline.
This rapid accumulation by large holders could indicate positive price momentum for Solana. However, investors should remain aware that concentrated holdings also carry the risk of increased volatility if whales make coordinated moves.
Solana DMI Shows the Trend Is Losing Its Steam
Since SOL price rec
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Author: Tiago Amaral
