• Whale activity intensifies as SOL retests key support, raising short-term correction concerns.
• Technicals hint at recovery, but weak sentiment and low social buzz keep traders cautious.

A large Solana [SOL] whale has sparked fresh speculation after unstaking and depositing 71,448 SOL—worth approximately $8.54 million—to Binance.

This move comes amid growing concerns about increased sell pressure from major holders across the Solana network. 

At press time, SOL was trading at $107.32, reflecting a 1.08% decline in the past 24 hours.

In addition to this transaction, more than 149,000 SOL have been offloaded by other large holders over the last 24 hours, with sales executed between $102 and $108. 

Interestingly, despite this notable withdrawal, the same whale still holds 568,000 SOL—valued at around $68 million—in staking contracts.

These on-chain movements have reignited questions about whether Solana is heading for a short-term correction or if whales are simply reallocating ahead of the next phase of market action.

SOL price action rebounds from support

SOL recently bounced off a critical support level near $103, which has consistently acted as a demand zone during previous corrections.

This bounce has helped stabilize the price temporarily and has shifted attention toward key resistance levels at $120.43 and $143.84.

Breaking past these zones could inject fresh momentum and signal a short-term recovery. 

However, if SOL fails to hold above $103 in the coming days, selling pressure could accelerate, dragging the price back into double digits.

Therefore, bulls must maintain this level to avoid shifting the market structure toward a more bearish trend.

Traders remain cautious

Solana’s total Weighted Sentiment was -0.178 at press time, reflecting prevailing caution across the market. Traders appeared uncertain about SOL’s direction, especially following large-scale sell-offs by influential wallets. 

Although price has shown temporary strength, sentiment remained fragile and highly reactive to sudden changes in on-chain behavior.

Therefore, any sustained rally will likely require a noticeable shift in crowd perception and renewed confidence in Solana’s fundamentals.

Momentum brewing?

Solana’s RSI hovered around 35 at the time of writing, placing it close to oversold territory and signaling the potential for a price rebound.

Additionally, the MACD is approaching a crossover point, with the signal line narrowing—hinting at a momentum shift. 

While this does not guarantee a rally, it offers a technical foundation for recovery if volume supports upward movement. Traders should monitor these indicators closely for confirmation of a short-term trend reversal.

Solana’s social buzz cools off: Can excitement return?

Social interest in Solana has dropped notably, reflecting the broader market’s uncertain stance. According to current data, social volume is down to 217 mentions, while social dominance has slipped to 4.81%.

This decline suggests that many retail traders have moved to the sidelines, likely waiting for stronger price action before re-engaging. 

However, social sentiment is often reactive and can change rapidly. A decisive move above $120 could reignite community attention and amplify bullish momentum, especially if supported by broader market optimism.

Correction or just a reshuffle for SOL?

The technical setup suggests Solana could see a short-term bounce, supported by RSI nearing oversold levels and a potential MACD crossover.

However, caution remains necessary as sentiment, whale activity, and social engagement still lean bearish.

While current on-chain behavior appears more like a strategic reshuffle than a full exit, traders should stay alert to volatility.

A confirmed move above resistance levels would strengthen the bullish case, but until then, the risk remains elevated.