Solana Faces Bearish Pressure as Whale Activity and Resistance at $155 Signal Uncertainty
Solana (SOL) is confronting sustained bearish momentum, marked by significant whale activity and mounting technical resistance. Recent trading saw a pivotal $150 support level breached, leading to a rapid 5.2% price decline, exacerbated by whale sell-offs with over 3 million SOL transferred to centralized exchanges. While these outflows indicate reduced investor confidence, on-chain fundamentals remain strong, boasting high transaction volumes and active addresses. Mixed whale behavior—one major holder staking over 61,800 SOL, another selling 44,539 SOL for quick profits—reflects divided sentiment among large investors. Additionally, Solana recorded its third-highest Coin Days Destroyed spike of 2025, highlighting dormant tokens moving and signaling potential strategic repositioning. Technical analysis positions SOL below its 9- and 21-day moving averages, with a weak RSI near oversold at 36.84. Despite a bullish tilt on Binance, where 75.89% hold long positions, this imbalance could leave the market vulnerable to sharp reversals. Declining futures open interest (-4.26%) suggests increasing caution among leveraged traders. The $148–$155 price range has emerged as a dense resistance zone; failing to regain $155 could stall any recovery. For traders, closely monitoring whale actions and the critical $155 resistance level is essential, as short-term downside risks remain pronounced despite Solana’s long-term network strength.
Bearish
Solana’s short-term outlook appears bearish, as whales are divided between staking and profit-taking, large sell-offs have accelerated the recent breakdown below $150, and technical indicators remain weak. An overwhelming number of traders are long on Binance, increasing the risk of a rapid reversal if support fails. The combination of declining open interest and reinforced resistance in the $148–$155 range further dampens upside prospects. While fundamental network strength persists, price action is currently disconnected from on-chain metrics, and the latest whale activity and market dynamics suggest high near-term downside risk for SOL. Unless SOL can convincingly reclaim $155, sustained recovery looks unlikely.