A crypto whale with the pockets tag “AA21…VxH9″ moved 123,500 SOL, value $20.80 million, from Binance in the present day, in response to Lookonchain.
The big switch occurred whereas the market was recovering, with indicators of accumulation. Nevertheless, Solana’s worth has not reacted a lot, because it nonetheless stays round its latest ranges.
As of now, Solana (SOL) is priced at $172, up 6% within the final 24 hours. However its buying and selling quantity has dropped by 28% in response to Coinmarketcap.
SOL has just lately fallen beneath its $180 assist and has additionally moved beneath the 200 EMA (Exponential Transferring Common), which is an indicator of a bearish route.
Based mostly on the chart through TradingView, SOL may be caught between $160 and $180 except it breaks above $190. If the worth falls beneath $160, it may drop one other 20% to $120. For now, the market is ready to see if patrons step in or if the worth retains falling.
However, some merchants are nonetheless betting that SOL’s worth will go up. The info from Coinglass confirmed that there are $145 million in lengthy positions on the degree of $162.8.
This exhibits that a number of merchants are assured that SOL is not going to drop beneath this degree, which makes it a robust assist zone for now.
Additionally Learn: Binance Resumes USD Deposits and Withdrawals After 18 Months
