Solana Struggles Amid Mixed Whale Activity
The Essentials at a Glance
- Solana (SOL) shows conflicting behavior among large investors (“whales”).
- One whale sold 44,539 SOL for a profit, while another staked 61,838 SOL.
- Technical indicators suggest weakened upward momentum.
- Coin Days Destroyed (CDD) reached the third-highest value in 2025 – a sign of old coins moving.
- Strong resistance between $148 and $155 could limit price increases.
Whales Send Mixed Signals
Within 24 hours, large Solana investors made opposing moves. While one whale sold 44,539 SOL, realizing a profit of around $649,000, another staked 61,838 SOL worth approximately $8.88 million. These contrasting actions reflect a divided market outlook among major investors. Some are securing profits, while others are betting on long-term price gains.
Dormant Coins Become Active
Solana experienced a significant increase in “Coin Days Destroyed” (CDD) – a metric indicating how long coins remained inactive before moving. With 3.55 billion CDD, the third-highest value of the year was recorded. Such movements suggest strategic reallocations, possibly in preparation for a trend reversal or major sell-offs. If these coins are transferred to exchanges, selling pressure could emerge.
Overheated Long Positions in the Market
Currently, about 75.89% of positions on Binance are on the long side. The long/short ratio stands at 3.15. This strong imbalance indicates excessive confidence in rising prices. At the same time, short positions worth $1.73 million were liquidated, while longs were affected by only $96,000. This disparity could lead to sudden price pullbacks if momentum fades.
Technical Analysis: Weak Structure
The current price of SOL is $148.71. This places the token below the 9-day and 21-day moving averages ($154.91 and $165.31, respectively). The Relative Strength Index (RSI) is at 36.84 – close to the oversold zone. These data suggest a weak market structure. A sustained upward move is only possible if the mentioned averages are surpassed.
Open Interest Declines – Caution with Leveraged Positions
Open interest in Solana futures fell by 4.26% to $380.16 million. A decline in open interest indicates that traders are pulling out of leveraged positions. Combined with the dominant long bias, this may signal uncertainty or an impending correction.
Resistance Between $148–$155
The Binance liquidation heatmap shows strong resistance zones between $148 and $155. These areas contain many open long positions that could be liquidated if prices fall. If a breakout above this zone fails, a chain reaction of sell orders could occur. Only above $155 could a new upward movement be established.
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Our Assessment
Solana is currently in a critical phase. The opposing whale activities, high CDD levels, and technical weakness point to market uncertainty. Despite positive signs such as large staking volumes and long positioning, warning signals currently outweigh them. Resistance in the $148 to $155 range could cap the price. Traders should monitor this zone closely and take risk management seriously.
Sources
- Glassnode
- Binance
- CoinGlass
- TradingView
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