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- Whale buys 28,390 SOL, tightening supply and fueling bullish sentiment.
- SOL faces key resistance at $222–$230; a breakout could lead to $263–$300.
- Futures market overheating and crowded longs may trigger volatility.
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A recent whale injection of $11.68 million USDC into HyperLiquid has intensified speculation around Solana’s (SOL) price potential. The large-scale accumulation of 28,390 SOL through a TWAP order signals strong conviction among institutional players and sets the stage for a possible breakout from the current consolidation zone.
Whale Accumulation Sparks Optimism
Data from Onchain Lens confirms the whale’s strategic accumulation, tightening the available supply of SOL and boosting market sentiment. Historically, such aggressive buying by high-net-worth players can act as a catalyst for upward price movement. Traders are closely watching whether this inflow will be enough to breach key resistance levels and trigger a sustained rally.
Technical Outlook: Ascending Triangle in Play
On the daily chart, Solana has formed an ascending triangle—a pattern often linked to bullish continuation. The price faces stiff resistance between $222 and $230, but a successful breakout could open the path toward $263 and potentially $300, aligning with Fibonacci extensions. On the downside, support levels at $188 and $183 provide safety buffers.
The Relative Strength Index (RSI) is currently around 57, indicating balanced momentum. SOL remains neither overbought nor exhausted, leaving room for buyers to assert control if bullish pressure continues.
Market Positioning and Futures Overheating
Binance data shows traders are overwhelmingly long, with 65.81% of accounts holding bullish positions. The resulting Long/Short Ratio of 1.93 suggests strong confidence but raises sustainability concerns. One-sided positioning could amplify volatility if resistance holds, triggering potential liquidations.
Meanwhile, the Futures Volume Bubble Map highlights elevated leverage, suggesting the derivatives market is “overheating.” High speculative exposure can accelerate breakouts but also intensifies the risk of sudden reversals. Traders are advised to balance optimism with caution as SOL navigates these critical zones.
Whale accumulation, bullish technical patterns, and futures market activity all point to a high-stakes setup for Solana. Should the $230 barrier break, the path toward $263 and even $300 becomes plausible. However, crowded long positions and leveraged derivatives introduce the potential for sharp corrections, making careful monitoring essential. Ultimately, Solana’s next major move will depend on whether demand from whales and retail buyers can sustain momentum above resistance.
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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
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