Solana (SOL) Holds $179 Despite Whale Accumulation and Technical Resistance
The post Solana (SOL) Holds $179 Despite Whale Accumulation and Technical Resistance appeared on BitcoinEthereumNews.com.
Luisa Crawford Jul 30, 2025 09:57 SOL trades at $179.11 (-2.94% in 24h) as $23M whale accumulation battles technical bearish signals and key resistance at $206.30 in volatile market conditions. Quick Take • SOL currently trading at $179.11 (-2.94% in 24h) • Solana’s RSI at 53.68 shows neutral momentum while MACD signals bearish divergence • Major whale accumulation of $23M withdrawn from exchanges indicates strong institutional confidence What’s Driving Solana Price Today? The SOL price action over the past 48 hours reflects a tug-of-war between bearish technical momentum and bullish whale activity. On July 28, over $23 million worth of SOL was withdrawn from major exchanges including Binance and Kraken, representing significant accumulation by large holders. This whale activity initially triggered a 2.41% price surge, demonstrating strong institutional confidence in Solana’s long-term prospects. However, the current 2.94% decline suggests that short-term selling pressure is overwhelming the positive whale sentiment. This aligns with the broader market’s bearish trend, where profit-taking and technical resistance levels are creating headwinds for SOL price advancement. The recent volatility can be traced back to July 23, when SOL experienced a sharp 9.5% decline due to $30 million in long-position liquidations. Despite this setback, Solana’s remarkable 35% surge throughout July helped it reclaim the fifth position in the cryptocurrency market with a $102.6 billion market capitalization, surpassing BNB. Adding to the positive fundamental backdrop, Solana released its long-term roadmap on July 25, outlining ambitious plans to become the foundational layer for global internet capital markets by 2027. While this strategic vision provides long-term bullish sentiment, it hasn’t been sufficient to overcome immediate technical resistance. SOL Technical Analysis: Mixed Signals Present Trading Opportunities Based on Binance spot market data, Solana technical analysis reveals a complex picture with both bullish and…
