Solana Faces Heightened Bearish Pressure as Whale Sell-Offs Threaten $140 Support Level
Solana (SOL) is under intensified bearish pressure as major whale investors continue significant sell-offs, highlighted by accelerated transfers of over $640 million in SOL to exchanges. On May 30, Solana saw larger outflows than inflows, signaling persistent negative momentum. This heavy selling activity by whales has put the crucial $140 support level under direct threat. Derivatives data show a shift to negative funding rates and widespread long liquidations, underscoring the market’s bearish sentiment. Technical analysis confirms that SOL has lost key bullish momentum, breaking below major support zones. If the $140 threshold is breached, analysts warn of potential cascading liquidations and deeper price drops. Short-term sentiment for Solana is decidedly negative, driven by large-scale whale activity and increasing volatility, though the long-term outlook will depend on broader crypto market developments and the resilience of the Solana ecosystem. Crypto traders should monitor SOL’s support levels, on-chain flows, funding rates, and whale activity for further volatility and price direction.
Bearish
The surge in large-scale sell-offs by Solana whales and substantial net outflows place significant stress on SOL’s price, with the $140 support level now at risk. Derivatives data—such as a negative funding rate and a spike in long liquidations—further reinforce the bearish sentiment. The break below key technical support levels and the lack of immediate bullish catalysts suggest that downward momentum could persist, especially if $140 is decisively breached, potentially triggering cascading liquidations and sharper declines. While long-term prospects may depend on broader ecosystem and market trends, short-term price direction remains negative due to heightened volatility and whale activity. Crypto traders should remain cautious and vigilant for further downside risk.