Solana Whales & Alameda Unstaking Pressure $170 Support
Solana is facing significant selling pressure as large holders have transferred over 226,000 SOL to exchanges. A single whale sold $17.2 million worth of SOL, intensifying profit-taking. Additionally, Alameda Research has unstaked $35 million in SOL, raising distribution risk. These whale sell-offs and the Alameda unstaking event are testing the critical $170 support level for Solana. Failure to hold this support could lead to further downside and increased volatility. By comparison, Solana’s quarterly ROI lags behind Ethereum, reflecting weaker market momentum. Traders should monitor whale activity and the $170 support level for signs of potential price shifts in SOL.
Bearish
The news is bearish because whale sell-offs and large-scale unstaking by Alameda increase selling pressure on SOL. Historically, concentrated whale distribution often precedes price declines, as seen in past events like the 2023 SOL correction following major on-chain transfers. In the short term, the risk of breaching the $170 support could trigger further market downturn and higher volatility. Long-term impact depends on whether SOL can regain momentum and attract new demand. Traders should watch for continued whale movements and support tests to gauge market sentiment.