Amidst a market filled with despair, a veteran whale quietly stepped in, spending $3.72 million to buy 32,000 SOL. This action not only broke the usual 'run when it drops' mentality but also sounded a heavy hammer indicating a potential rebound for SOL.
This whale has something
According to tracked data, three years ago, 3.3 million SOL were purchased for $6.61 million, at a time when Solana's price was as high as $216. Even though SOL later plummeted below $10, this address has never reduced its holdings.
Even more remarkably, this whale has continued to increase its holdings over the past three years, with the most recent purchase being 10,000 SOL for $1.16 million six months ago. This is not emotional trading, but rather calm, rhythmic, and predictive 'counter-trend operation.'
As the internet user NEO AI said:
"The question is not why he bought, but what he knows that you do not."
SOL Technical Analysis: Pressure testing is approaching, will there be a bullish breakout?
Analyst Ted pointed out that SOL is currently approaching a key trendline resistance level. Historical trends indicate that whenever the price nears this area, it often signifies an impending battle for direction.
The daily chart shows that SOL has strongly rebounded from the $100 support level, currently priced at $117.49, with a 24-hour increase of 2.63%. However, in the short term, $120 is a key resistance level, and if it cannot break through, it may retrace to form a consolidation between $107 and $112.
Momentum indicators like RSI and MACD have not shown overbought conditions, indicating that there is still upward space for prices. Once a breakout occurs, it is expected to ignite a new wave of bullish momentum.
Fundamentals: Triple catalysts are brewing
Firedancer upgrade is imminent
This is the largest scale performance optimization in Solana's history, focusing on high throughput and low latency. Once deployed, the network's scalability will be significantly enhanced.
Calls for a SOL spot ETF are rising
With the U.S. SEC allowing Bitcoin ETFs, the market expects mainstream assets like SOL to be candidates for the next wave of 'institutionalization.' Once the ETF is approved, it could trigger a capital influx.
DeFi ecosystem is warming up + stablecoin supply has surged by 140%
The trading volume of decentralized exchanges is recovering, and the activity of stablecoins has significantly increased, injecting long-term value support into the real use cases of SOL.
Many supporters of the Solana ecosystem believe that if the aforementioned positives gradually materialize, it is not a fantasy for SOL to reach $1000 in 2025.
Although the current market is still in a phase of uncertainty, this 'smart money' has already begun to position itself, and savvy investors may not want to ignore the signals behind this.