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- A new whale wallet withdrew 200,001 SOL from Binance, signaling aggressive accumulation.
- DEX volume surged and buyers consistently defended the $126–$145 range.
- Momentum, CVD, and liquidation data all point toward a potential breakout attempt.
Solana is drawing renewed attention from large holders after a newly created wallet absorbed 200,001 SOL — nearly $28 million — from Binance in a single move. The withdrawal, which instantly reduced available exchange supply, adds to a growing pattern of quiet but consistent accumulation as SOL continues to trade inside a well-defined range.
The action comes at a moment when Solana is holding near the upper edge of its accumulation block, with whales positioning early in case the next major trend shifts to the upside. In a market still dealing with uncertainty, these deep-pocketed moves often act as early conviction signals.
Range Support Holds as Buyers Step In
SOL remains steady inside its accumulation zone between $126 and $145, a region that has repeatedly attracted demand over the past several weeks. Dips continue to be rejected, and buyers have defended the lower boundary with a series of higher lows — a sign that the structure is quietly improving beneath the surface.
Price now sits above the midpoint of the range, and a breakout above $145 could trigger a push toward $168, an area with clustered liquidity from prior trading activity. While resistance remains intact, traders increasingly view this zone as a foundational demand region rather than a breakdown risk.
Momentum Indicators Turn Higher
Momentum has started to reflect this shift. The MACD recently flipped bullish as the MACD line crossed above the signal line, showing buyers gradually regaining short-term control. Histogram bars hovering near neutral typically appear before momentum expands, adding weight to the accumulation narrative.
At the same time, Taker Buy CVD continues leaning decisively toward buyers. The metric shows aggressive market buying consistently absorbing sell pressure, preventing downside extension even during quieter trading sessions. This behavior has become a key pillar of the current bullish thesis.
On-Chain Activity Strengthens the Case
Solana’s on-chain activity is also heating up. DEX volume reached $3.79 billion over 24 hours and $24.61 billion over the past week — a 12.76% increase that underscores strong participation from non-custodial users. DEX dominance now sits above 16%, indicating healthier organic demand rather than purely leveraged speculation.
Liquidation data adds another layer. Short sellers faced $293K in liquidations over the last session, outpacing longs. Binance alone accounted for more than $167K in short wipes, highlighting repeated failed attempts to break the range floor near $138.64.
Also Read: Whales Scoop Up 9M UNI as Price Crashes to $5.3 — Is a Rebound Starting?
A Market Setting Up for Reversal
With whales withdrawing supply, buyers absorbing pressure, and DEX activity climbing, Solana is building a credible case for a reversal. A confirmed break above $145 remains the key trigger, but the underlying structure now supports the possibility of a meaningful markup phase if momentum continues improving.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
