Altcoins News

Story: Whales Sell $31M in Solana as $SOL Defends $208 SMA and Eyes $250 Resistance

By Julie Binoche

1 / 15

Weekly Chart Shows Cup-and-Handle Pattern. Analyst CryptoJelleNL highlighted Solana’s weekly cup-and-handle formation, a bullish continuation…

2 / 15

Daily Chart Insights: Liquidity Sweep and SMA Retest. On shorter timeframes, Solana has reclaimed the 50-day SMA, a bullish signal after a recent…

3 / 15

Regulatory Climate Shapes Market Sentiment. Beyond technical charts, regulatory developments continue to shape Solana’s outlook.

4 / 15

Outlook: Can Solana Break $250 Before Year-End?. With whales cashing out millions, Solana still shows resilience by defending its $208 SMA support.

5 / 15

Solana ($SOL) faced heavy selling pressure this week as a major whale offloaded $31.59 million worth of tokens, according to on-chain analyst TedPillows.

6 / 15

Despite the sizeable sell-off, Solana’s price quickly stabilized above the $208 simple moving average (SMA), reinforcing confidence that buyers are defending critical zones as…

7 / 15

Analyst CryptoJelleNL highlighted Solana’s weekly cup-and-handle formation, a bullish continuation pattern often seen before extended rallies.

8 / 15

The $250 resistance level now acts as the final major hurdle for Solana’s year-end rally. A decisive breakout above this mark could unlock targets between $300 and $340, fueling…

9 / 15

However, a failure to overcome $250 could trigger a temporary retreat toward $190–$200, where strong support remains.

10 / 15

Key resistance levels in the near term sit around $229–$232, where supply zones could slow upward momentum.

11 / 15

The Relative Strength Index (RSI) has bounced from oversold conditions but remains mid-range, suggesting cautious accumulation rather than overexuberant buying.

12 / 15

At press time, Solana trades at $214, up 3.56% in 24 hours but still down 1.24% week-on-week. Trading activity remains strong, with $7.

13 / 15

Beyond technical charts, regulatory developments continue to shape Solana’s outlook. Journalist Eleanor Terrett reported that the U.S.

14 / 15

The move comes after the SEC’s September approval of generic listing standards, which streamline ETF approval processes.

15 / 15

For Solana, this regulatory clarity may help offset short-term whale-driven volatility, reinforcing the token’s long-term narrative as one of the leading altcoin ecosystems.

The Currency Analytics

Want the full story?