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Solana (SOL) Price Holds Around $200 While Whale Activity Weakens

2025-02-12 Author: Content Editor

The price of Solana (SOL) is currently around $200, with an attempt to reclaim a market cap of $100 billion and a daily trading volume of $4 billion. However, the number of Solana whales, or addresses holding at least 10,000 SOL, has been declining after reaching an all-time high of 5,167 on January 25, now sitting at 5,067. This shift in whale activity, combined with weakening trend strength and narrowing EMA lines, suggests that SOL is at a critical point where both bullish and bearish scenarios are still possible. The activity of these large holders is important to monitor as their accumulation can signal confidence and a potential price surge, while a decline in whale addresses may indicate distribution and increase the risk of selling pressure. Although the current whale count is relatively high, it is nearing its lowest point in the past month, suggesting that some large holders may be reducing their exposure, potentially introducing volatility if the trend continues. Solana's trend strength has significantly declined, leaving the market without a clear directional bias. The market is currently in a phase of consolidation, waiting for a catalyst to define its next move. The narrowing EMA lines indicate decreasing momentum and the absence of a clear trend direction. If bullish momentum returns, SOL price could test the $220 resistance level and potentially reach $244. On the other hand, if a downtrend strengthens, SOL price could retest the $187 support level and drop as low as $176. The market remains undecided, and the next move will depend on whether buyers or sellers take the lead.

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