Solana (SOL) is facing a crucial resistance level after a significant whale transaction saw 98,000 SOL offloaded by the Pump Fun trading platform. This move has sparked speculation about whether SOL can maintain its bullish momentum or face a short-term correction.
Whale Dump: 98,000 SOL Hits the Market
📉 Pump Fun, a decentralized trading platform, reportedly sold 98,000 SOL tokens, worth approximately $10 million, into the market. This large transaction briefly pressured SOL’s price, causing a minor pullback.
🔹 Why does this matter?
- Large sales like this can create short-term resistance if demand doesn’t absorb the supply.
- Whales and major platforms offloading assets often signal a local top or a rotation into other assets.
Solana’s Key Resistance Levels
🚀 SOL is now approaching a critical resistance zone at $110-$115. This level has historically been a battleground between buyers and sellers.
💡 If SOL breaks above this zone, the next targets could be:
- $125 – A psychological level where profit-taking could occur.
- $150+ – If bullish momentum strengthens, SOL could surge toward previous highs.
⚠️ However, rejection at $110-$115 could lead to:
- A pullback to $100 support
- A deeper correction to $85-$90, where major liquidity sits
On-Chain & Market Sentiment
📊 Bullish Indicators:
✅ Institutional interest remains strong, with funds accumulating SOL.
✅ Solana ecosystem growth is attracting more developers and users.
✅ High transaction speed & low fees continue to make Solana a leading blockchain.
📊 Bearish Risks:
⚠️ Whale dumping may slow down momentum in the short term.
⚠️ Market-wide corrections could impact SOL’s price action.
⚠️ Overbought RSI levels suggest a cooldown might be necessary.
Final Thoughts
🔮 Solana’s short-term fate depends on whether it can break and hold above the $110-$115 resistance zone. If buyers step in, we could see another strong rally. However, failure to do so may lead to a temporary correction before the next move.
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