The post Solana just saw a $56 mln whale transfer! Is SOL bracing for a breakout? appeared on BitcoinEthereumNews.com. Solana recorded a significant shift after 439,938 SOL left Coinbase Institutional for an unknown wallet, and this movement immediately intensified discussions around accumulation rather than short-term distribution.  The scale of the transfer strengthened confidence that whales anticipate a Solana [SOL] reversal while the market remains compressed.  Price action near this zone continues to show firm buyer engagement, which reinforces expectations for a rebound attempt.  However, traders observe whether sustained demand eventually compresses sell-side liquidity enough to trigger a decisive breakout above resistance. Solana netflows confirm tightening supply pressure Solana continues experiencing heavy negative netflows, including a recent $39.65M outflow that highlights persistent exits from exchanges.  This trend reduces immediate selling pressure and strengthens the backdrop for a potential rebound near support.  Furthermore, the combination of outflows and whale accumulation strengthens confidence that investors prefer holding rather than speculative rotation.  The tightening supply environment therefore creates favorable conditions for price expansion once volatility compresses further within current levels.  However, traders remain aware that failure to reclaim nearby resistance may still attract short-term selling before a stronger trend develops. Source: CoinGlass Falling wedge and double bottom hint strength Solana trades within a narrowing falling wedge structure, and the price now presses against its lower boundary while forming a clear double-bottom formation inside the demand region.  This convergence typically signals weakening bearish momentum and strengthens the probability of a reversal attempt.  Additionally, the wedge compresses volatility while buyers defend the $123–$130 region aggressively, which creates an ideal environment for a breakout toward $143.33 and potentially $167.38.  The double-bottom structure also reveals higher rejection strength on each retest, suggesting buyers continue stepping in earlier.  Besides, the MACD now curls upward as the MACD line approaches the signal line, which further supports expectations for a rebound attempt from current levels. However, traders remain cautious because a… The post Solana just saw a $56 mln whale transfer! Is SOL bracing for a breakout? appeared on BitcoinEthereumNews.com. Solana recorded a significant shift after 439,938 SOL left Coinbase Institutional for an unknown wallet, and this movement immediately intensified discussions around accumulation rather than short-term distribution.  The scale of the transfer strengthened confidence that whales anticipate a Solana [SOL] reversal while the market remains compressed.  Price action near this zone continues to show firm buyer engagement, which reinforces expectations for a rebound attempt.  However, traders observe whether sustained demand eventually compresses sell-side liquidity enough to trigger a decisive breakout above resistance. Solana netflows confirm tightening supply pressure Solana continues experiencing heavy negative netflows, including a recent $39.65M outflow that highlights persistent exits from exchanges.  This trend reduces immediate selling pressure and strengthens the backdrop for a potential rebound near support.  Furthermore, the combination of outflows and whale accumulation strengthens confidence that investors prefer holding rather than speculative rotation.  The tightening supply environment therefore creates favorable conditions for price expansion once volatility compresses further within current levels.  However, traders remain aware that failure to reclaim nearby resistance may still attract short-term selling before a stronger trend develops. Source: CoinGlass Falling wedge and double bottom hint strength Solana trades within a narrowing falling wedge structure, and the price now presses against its lower boundary while forming a clear double-bottom formation inside the demand region.  This convergence typically signals weakening bearish momentum and strengthens the probability of a reversal attempt.  Additionally, the wedge compresses volatility while buyers defend the $123–$130 region aggressively, which creates an ideal environment for a breakout toward $143.33 and potentially $167.38.  The double-bottom structure also reveals higher rejection strength on each retest, suggesting buyers continue stepping in earlier.  Besides, the MACD now curls upward as the MACD line approaches the signal line, which further supports expectations for a rebound attempt from current levels. However, traders remain cautious because a…

Solana just saw a $56 mln whale transfer! Is SOL bracing for a breakout?

2025/12/02 22:13

Solana recorded a significant shift after 439,938 SOL left Coinbase Institutional for an unknown wallet, and this movement immediately intensified discussions around accumulation rather than short-term distribution. 

The scale of the transfer strengthened confidence that whales anticipate a Solana [SOL] reversal while the market remains compressed. 

Price action near this zone continues to show firm buyer engagement, which reinforces expectations for a rebound attempt. 

However, traders observe whether sustained demand eventually compresses sell-side liquidity enough to trigger a decisive breakout above resistance.

Solana netflows confirm tightening supply pressure

Solana continues experiencing heavy negative netflows, including a recent $39.65M outflow that highlights persistent exits from exchanges. 

This trend reduces immediate selling pressure and strengthens the backdrop for a potential rebound near support. 

Furthermore, the combination of outflows and whale accumulation strengthens confidence that investors prefer holding rather than speculative rotation. 

The tightening supply environment therefore creates favorable conditions for price expansion once volatility compresses further within current levels. 

However, traders remain aware that failure to reclaim nearby resistance may still attract short-term selling before a stronger trend develops.

Source: CoinGlass

Falling wedge and double bottom hint strength

Solana trades within a narrowing falling wedge structure, and the price now presses against its lower boundary while forming a clear double-bottom formation inside the demand region. 

This convergence typically signals weakening bearish momentum and strengthens the probability of a reversal attempt. 

Additionally, the wedge compresses volatility while buyers defend the $123–$130 region aggressively, which creates an ideal environment for a breakout toward $143.33 and potentially $167.38. 

The double-bottom structure also reveals higher rejection strength on each retest, suggesting buyers continue stepping in earlier. 

Besides, the MACD now curls upward as the MACD line approaches the signal line, which further supports expectations for a rebound attempt from current levels.

However, traders remain cautious because a break below the zone could weaken the entire reversal structure.

Source: TradingView

Buy-side aggression strengthens CVD trend

The 90-day Taker Buy CVD continues climbing, and this behavior reveals strong buy-side aggression across medium-term order flow. 

Buyers consistently absorb sell orders, which aligns seamlessly with the double-bottom structure forming near support. 

Besides, the improving CVD trend reinforces the narrative that accumulation remains active even as price trades near its lower boundary. 

This dynamic therefore supports the broader reversal setup because rising buy pressure usually precedes stronger momentum shifts. 

However, traders prefer confirmation through higher lows before fully embracing an upward continuation scenario.

Source: CryptoQuant

Solana long bias grows as sentiment improves

Solana’s Long/Short Ratio showed 80.21% long positions versus 19.79% short positions, creating a clear directional bias toward bullish continuation. 

Traders appeared confident that Solana could rebound from the current support zone as the wedge tightened toward a potential breakout point. 

This sentiment shift aligns directly with strengthening buy pressure across multiple indicators, which adds conviction to the bullish narrative. 

The buildup of long exposure also suggests that traders position early for a possible trend reversal ahead of resistance tests. 

However, sustained momentum requires increased volume inflows to confirm stronger follow-through.

Source: CoinGlass

Is Solana preparing for a rebound?

Solana shows clear signs of preparing for a rebound. The falling wedge and double bottom strengthen its recovery setup. Tightening supply and improving MACD momentum also support a bullish shift. 

Buyers remain active, and long positioning grows steadily. If Solana protects the $123–$130 zone and breaks the wedge’s upper boundary, a confirmed reversal becomes likely.


Final Thoughts

  • Large whale transfers and persistent negative netflows tighten supply and strengthen accumulation signals near support.
  • Growing buy pressure, improving MACD momentum, and a strong long–short ratio reinforce a bullish reversal setup.
Next: ZCash drops 53% in two weeks – Is this the end of an explosive cycle?

Source: https://ambcrypto.com/solana-just-saw-a-56-mln-whale-transfer-is-sol-bracing-for-a-breakout/

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