Solana Whale Wallets Reach Record 5,224 Amid Price Dip
Solana whale wallets holding over 10,000 SOL surged to a record 5,224, according to Glassnode data cited by analyst Ali Martinez. This increase in Solana whale wallets occurred even as SOL price dipped 4% to $197.27, a level 32.9% below its all-time high. Martinez views this surge as a final “buy-the-dip” opportunity before a potential rally toward $360. On the daily chart, SOL respects a long-term ascending support line, with RSI at 61.5 and a positive MACD suggesting further upside. Key resistance stands at $209, $272.23, and the $320–$360 range, while downside risks include $185.74, $167.47, and $154.64. Traders should monitor whale accumulation and technical levels for entry points, as the current dip may offer a strategic opening ahead of an anticipated rally.
Bullish
The record surge in Solana whale wallets demonstrates strong conviction from large holders buying the recent dip, a pattern that historically precedes significant price rallies. Technical indicators—an ascending support trendline, RSI above 60, and a positive MACD crossover—also support further upside. The 4% drop to $197 offers a strategic entry point ahead of a likely rebound toward $360. While traders should watch key support levels at $185 and $167, the depth of institutional accumulation suggests limited downside risk. Overall, the combination of whale buying and bullish technical setup points to increased trading activity and positive sentiment, making this development a bullish catalyst in both the short and long term.