- A longtime Solana whale has unstaked over $25M in SOL since April, transferring large chunks to Binance but still holding $168M staked—sparking speculation without clear signs of selling yet.
- SOL is bouncing between key levels ($140–$176), with bullish patterns forming on the daily chart, including a double bottom and V-shaped recovery that hint at a potential breakout.
- Elliott Wave analysis suggests SOL may be entering wave 5, often the strongest phase; a breakout above resistance could signal a push toward new all-time highs if momentum holds.
Solana’s back in the spotlight—and not just because of price charts. A massive whale that’s been sitting on SOL for years has started shifting serious amounts of tokens around. According to Onchain Lens, this long-time holder just unstaked 50,017 SOL (about $7.5M) on June 8 and sent the same chunk straight to Binance. And that wasn’t even a one-off—the day before, they moved another 25,008 SOL, worth around $3.7M.
In total, the whale has been moving a lot lately. Since April, they’ve unstaked 175,062 SOL—that’s over $25 million in value. All of it had been locked up for four years, so clearly, this isn’t just some random sell-off. Interestingly, the whale still holds a big stash—1.12 million SOL still staked, worth roughly $168 million. So yeah, they’re not exactly cashing out entirely, but people are watching closely to see what they do next.
Solana Holds the Line While Bulls Test the Waters
Right now, SOL’s hanging around $149 on the weekly chart, just bouncing between key zones—resistance up at $176.99 and support sitting tight at $140.87. It’s kinda in limbo, technically neutral, but the setup’s got breakout vibes. Push above that $176 mark, and it might just rip. Fall under $140, though, and that bullish dream could unravel fast.
On the daily chart, things look a little more hopeful. SOL has reclaimed the $141 demand zone and even formed a double bottom—a classic sign of potential strength. The price seems to be carving out a nice V-shape recovery. If it can crack $152 again with some solid momentum behind it, a push to retest that $176 level seems more than likely.
All Eyes on Wave 5—Could We Be Heading for New Highs?
Here’s where things get a bit more technical: Elliott Wave analysts think SOL might’ve wrapped up its long-drawn-out wave 4. If they’re right, we’re in the early stages of wave 5—and that’s the one where things usually pop off. The chart suggests we’re right inside wave 2 of that final leg, and if the $140–$150 area holds, wave 3 (typically the strongest) could kick off soon.
Momentum-wise, the RSI’s pretty neutral—not too hot, not too cold—so there’s definitely room for movement. But the wildcard remains the macro picture and, of course, what that whale decides to do next. Still, if SOL breaks above near-term resistance, that could confirm a full-blown bullish move heading deeper into June. One to keep an eye on, no doubt.
