- A whale transferred an enormous sum of SOL price $45.85 million to Binance.
- The whale indifferent 245,922 SOL a couple of hours in the past.
- SOL accumulation stays bullish however the MACD indicator confirmed a bearish divergence.
SOL, the token of the Solana blockchain, reached file highs a couple of months in the past, however has been unable to remain above $200 these days. The altcoin is now down 13.40% over the previous month. Added to this bearish strain is a whale which unloaded a big quantity of 245,922 SOL on the Binance change.
Blockchain analytics platform Lookonchain famous that the whale landed as a lot as 245,922 SOL sending it to Binance. This may solely imply that the whale is about to promote, which will definitely trigger SOL to fall under its present value of $190.30.
Learn additionally: Crypto Whale's $18.57M Memecoin Buy Turns Heads on Solana
It is very important be aware that SOL hit its all-time excessive of $263.83 two months in the past and has since crashed 27.78%. However buyers are nonetheless bullish on SOL, with the market favoring the all-cash approval of the Solana exchange-traded fund (ETF) underneath the brand new Trump administration.
SOL Value Evaluation
Solana value evaluation on the day by day chart supplied by TradingView under reveals that the buildup of the altcoin has been fairly excessive since August and within the quick time period, the slope of the road reveals that the degrees of accumulation are growing once more – a bullish indication for costs.
In the meantime, the Relative Power Index (RSI) signifies a price of 43.38, which implies that the bears have gained the higher hand on the day by day chart. Nevertheless, the slope of the road means that a brand new $200 check could possibly be seen within the coming days.
Nevertheless, the MACD indicator seen within the day by day chart above paints a special image. The sign line (crimson) has crossed above the MACD line (blue), confirming a bearish divergence on the day by day timeframe. The MACD histogram has additionally turned crimson.
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