A massive Solana transaction has caught the market’s attention, as a Solana Whale moved 374,161 SOL, worth around $52.7 million, from Binance to a private wallet. The withdrawal scale suggests that this isn’t just any routine transfer. When large players move their holdings off exchanges, it’s often a hint they’re planning to hold rather than sell, which many see as a bullish sign for the Solana prices. While we can’t know the exact intent behind the move, the fact that it came from a centralized exchange to an unknown wallet points to possible accumulation. And with the SOL price trying to push higher, this couldn’t have come at a more interesting time.
Moves like this don’t always lead to price surges, but they often give a peek into how confident big investors feel. If this Solana Whale is preparing to hold, it might signal growing trust in the asset’s upside potential. This enormous outflow could add to the momentum with price action heating up and testing key levels. Let’s look at how SOL Price has been behaving on the charts to see if the technicals align with the sentiment.
SOL Price Analysis of April 22nd, 2025
The SOL price experienced its first spike at the beginning of April 21st at the high price of $143 and entered a sideways trading phase between $139 and $142 from 00:00 to 09:00 UTC. During this time, the RSI was hovering just under the overbought zone, reflecting continued buying pressure in the market. The MACD was neutral and flashed a few golden crosses, but not enough to confirm a SOL Breakout. The market couldn’t level up, and SOL couldn’t maintain levels above $141. As a result, buying activity started to taper off gradually, suggesting that buyers were exhausted at the top of the range and that a reversal was becoming likely.
Chart 1, Analyzed by Alokkp0608, published on April 22nd, 2025.
Between 09:00 and 18:00 UTC, SOL broke below the lower boundary of its trading range, entering a descending channel. This downtrend pulled the Solana price down to the $134 support level, forming a temporary bottom. During this leg, RSI consistently touched the oversold zone, indicating weakening price strength, while MACD printed several death crosses during this timeframe, signaling a dominant bearish trend. However, price action near the support level showed signs of accumulation with small bullish candles, hinting at a potential SOL Breakout.
From 18:00 UTC on April 21 through the early hours of April 22, SOL gradually recovered, transitioning into a moderate upward channel. After testing the $134 support, it climbed steadily and crossed $138 by 06:00 UTC. MACD began forming golden crosses more frequently, and RSI rose to near-overbought conditions, especially after 03:00 UTC, reflecting renewed buying interest. As of the current session, SOL is pushing toward the critical $141 resistance level. If bulls break and hold above this zone, a retest of $143 is likely, a clean SOL Breakout from current consolidation.
Momentum Builds, But Solana Price Faces Key Resistance Ahead
Solana appears to regain strength after bouncing off the $134 support, climbing steadily toward the $141 resistance. The formation of golden crosses on the MACD and RSI’s move into overbought territory signals growing bullish momentum, potentially setting up for a SOL Breakout. However, a confirmed hold above $141 is essential to retest the $143 high. Otherwise, a short-term pullback toward the $137–$135 zone could play out.
The recent $52.7 million Solana Whale withdrawal from Binance reinforces this bullish sentiment, hinting at strong hands entering the scene. While the market may be leaning optimistic, waiting for a definitive move in SOL Price before calling a trend shift is wise. Traders should stay alert as the mix of whale activity and technical setups continues to shape the next leg of SOL’s journey.
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