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- Whale $26M long signals confidence in SOL near $170.
- $170–$180 zone crucial for next bullish move.
- Over-leveraged longs heighten short-term volatility risks.
Solana (SOL) is showing signs of a potential rebound after a turbulent period marked by $38 million in long liquidations. Strong buyer support near $170 suggests that bullish momentum may be rebuilding, with whales and retail traders signaling confidence in the token’s near-term upside.
Whale Moves Signal Confidence
A major whale recently entered the Solana market with a $26.14 million leveraged long on Hyperliquid, backed by a $10 million USDC deposit. This 20x leveraged bet highlights both high conviction and elevated risk, as volatility could amplify losses quickly.
Such aggressive positions often influence short-term market structure, drawing liquidity toward key resistance points. Analysts view this entry as a calculated move, anticipating renewed buying strength, particularly since Solana trades near its historical accumulation zone.
Technical Setup Supports Rebound
Solana’s current price sits around $176, within a key demand zone between $170–$180. Historically, this area has sparked strong bullish reversals, acting as a lower boundary for the long-term ascending channel.
If buyers hold this support, SOL could target $205 and potentially $222. Conversely, failing to defend the zone may push prices toward $158. Traders are watching the $170 floor closely to gauge whether bulls can sustain momentum without triggering liquidations.
Market Sentiment: Optimism and Risk
Data from Binance shows that over 89% of SOLUSD perpetual accounts are long, reflecting collective optimism. While aligned bullish sentiment can drive rapid rallies, it also heightens vulnerability to sudden squeezes. Overcrowded longs may lead to volatility spikes, particularly if funding rates increase.
Also Read: Solana Surges on $155M ETF Inflows and Stablecoin Growth
Recent long liquidations — $38.03 million wiped out across exchanges — underscore the risks of over-leverage. Short liquidations remain minimal at $885K, indicating an imbalance favoring sellers.
Despite liquidation events and high leverage, Solana’s technical structure remains resilient. The $170–$180 accumulation zone is a critical pivot point, supported by whale confidence and retail participation. Maintaining this floor could allow SOL to reclaim $205 and reinforce a bullish recovery narrative.
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.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
