đđDid This Whale Move Block the Altcoin's Path to $160? Here's What Happened! đđ
According to Solscan data, a large Solana$SOL
whale removed 100,000 SOL tokens from the stake 15 hours ago and transferred them to Binance. It is thought that this move was due to the whale wanting to evaluate the rally. At the time of writing, the price of SOL is trading at $151.88 and has gained 9% in the last seven days. However, it is stated that if the whale continues these sales, this price increase may be negatively affected. Historically, this whale's sales have caused significant fluctuations in the price of SOL; For example, when the whale sold 1.2 million SOL worth $178 million between June 7 and July 7, the price fell from $170 to $128.
Despite this move by the whale, bullish signals still seem strong. The SAR indicator is indicating a strong uptrend under the price of SOL. Also, the Chaikin Money Flow (CMF) is currently at 0.27, indicating high buying pressure, which shows that the market continues to be positive towards the altcoin. If the buying momentum continues, the price of SOL could rise towards the $160.09 resistance. Breaking this critical level could pave the way for SOL to rise to $188.74. On the other hand, if the whale continues to sell to make a profit, history could repeat itself and Solanaâs price could fall by 27% to around $110.
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