Solana (SOL) Price Action

Solana SOL $150.7 24h volatility: 2.6% Market cap: $78.04 B Vol. 24h: $3.80 B is once again caught in a turbulent mix of on-chain shifts, subtle short-side pressure, and conflicting technical indicators. Meanwhile, a major whale recently unstaked and deposited 11,445 SOL worth approximately $200.000 into Binance after a year of liquid staking.

Key Notes:

* Solana (SOL) is once again caught in a turbulent mix of on-chain shifts, subtle short-side pressure, and conflicting technical indicators.

* A major whale recently unstaked and deposited 11,445 SOL (approx. $2.01 million) into Binance after a year of liquid staking.

* The move, spotted by Onchain Lens, brought the whale a tidy profit of $2.94 million.

* A year prior, the whale had withdrawn 30,000 SOL ($2.95 million) and converted the entire sum into JitoSOL— a liquid staking derivative token.

Whale Unstakes Massive SOL Position, Reflecting Long-Term Faith in Solana

The whale’s partial exit marks a significant moment in the narrative of Solana, highlighting the potential for substantial gains within the blockchain space.

It is worth noting that despite the recent unstaking, the whale still holds 18,290 JitoSOL, currently valued at around $3.87 million. This indicates that while part of the position was liquidated to realize gains, the investor continues to show long-term confidence in Solana’s staking ecosystem.

Graph: Solana Funding Rate Turns Negative, Signaling Early Short-Side Pressure

According to Glassnode data, Solana is the only top 10 non-stablecoin asset with a negative funding rate, standing at -0.0002%.

While this figure is minuscule, it is significant in what it represents—a subtle but emerging lean toward bearishness in the derivatives market.

Many times, such shifts in sentiment precede a larger move, whether that’s a breakdown if momentum grows or a short squeeze if bears are caught offside.

Technical Analysis: Momentum Wanes, Key Levels Await in Sol Price Action

As can be seen on the weekly chart of Solana below, the SOL price action is currently holding just below the 0.382 Fibonacci retracement level at $185.29, having recently bounced from the 0.236 Fib at $157.18.

These levels are derived from the major upward move between $60 and $304, and they serve as key zones for both support and resistance. A sustained move above $185 could open the path toward the $208 and $230 regions—both significant resistance levels.

SOL/USD Weekly Chart

The MACD on the weekly timeframe has confirmed a bullish crossover, indicating that the buyers are in control right now. RSI sits in neutral territory at 53, which technically gives room for a move in either direction, but it lacks the strength typically seen in strong upward trends.

Adding to the concern is the rising wedge structure seen on the chart, which often breaks to the downside.

If the price fails to hold above $170-$175, it risks revisiting the $157 support zone, and a breach below that could trigger a deeper correction toward $120, the next major horizontal support.