- Two wallets withdrew 1.34 million soil from Coinbase Prime, with a clears suggesting a silent accumulation during the decline.
- If $ 156 holds, Sol could rally at 16% around $ 184, but a shift could trigger a deeper correction.
Solana (soil) joined $ 168 before cooling, suggesting that a healthy correction phase can be in progress.
Naturally, whale activity and chain signals have raised questions about whether this dive was a stronger leg configuration.
Whales and institutional participation soar
On June 12, the objective of Whale Tracker Onchain pointed out that two newly created crypto portfolios withdrew 1,348,741 soil worth $ 219.99 million in Coinbase Prime.
Such a large altcoin withdrawal is generally associated with whales or institutions and seems to be a bull sign for assets.
However, the whale has sent all this soil for the lineage, which suggests a long -term belief in Solana. It is a bullish sign and also indicates a potential purchasing opportunity.
In addition to this whale transaction, long -term investors and holders have also been found by accumulating the token, because the price seems to go towards a correction.
$ 21.82 million in ground flow
According to the metric of quince spot entries, exchanges through the cryptographic landscape recorded an exit of $ 21.82 million in soil chips in the last 24 hours.
Source: Coringlass
This substantial discussion exit from the exchanges suggests potential accumulation, which could cause purchase pressure and another rally upwards.
However, despite this optimistic backdrop, the price briefly dropped by $ 4% to $ 159.60, in accordance with wider correction.
The Solana bulls are noisy, but are they early?
Given the current feeling of the market, traders are betting more and more on the bullish side. At the time of the press, the Binance long / short account ratio of Binance reached 2.40, 70.61% of traders occupying long positions.
Source: Coringlass
It is a strong bias, suggesting that leverage traders continued to bet on the rise despite the decline. In addition, short positions represented only 29.39%, showing that bears were always reluctant to intervene with size.
During the combination of these measures, it seems that the bulls are currently dominating Altcoin and helping to maintain soil in an upward trend.
Solana: Action of prices and key levels
According to the analysis of Ambcrypto’s graphics, Sol seems to be in an upward trend, although it currently experiences a market correction.
The daily graph has revealed that Altcoin has recently increased by more than 15% to reach the level of $ 168, but now retests a local support area nearly $ 157.80.
Source: tradingView
If buyers defend $ 157, another thrust at $ 184, or 16% higher – has remained possible. However, if the sellers take control and prices are broken down by $ 156, the decrease targets included $ 148 and $ 142.
