A cryptocurrency whale invested $10.26 million to accumulate 121,368 Solana (SOL) at an average price of $84.57, signaling major player conviction. The transaction, executed through multiple USDC-to-SOL swaps, coincides with trading data showing buyer dominance and net exchange outflows, though SOL remains confined within a longer-term descending channel on its price chart.
A major cryptocurrency investor, known as a whale, deployed $10.26 million to acquire 121,368 **Solana** tokens. The wallet executed multiple swaps from USDC to SOL in a short timeframe, suggesting deliberate scaling rather than impulsive buying.
This structured accumulation occurred as SOL price hovered near a critical $78.50 support level. The asset continues trading inside a long-term descending channel on the daily chart, with immediate resistance near $120.
The daily MACD indicator showed early bullish convergence as selling pressure began to fade. However, the indicator remains below the zero line, limiting full confirmation of a trend reversal.
Market data indicates aggressive buyers currently outweigh sellers across recent sessions. This aligns with the whale’s accumulation and suggests broader participation from active traders.
Furthermore, exchange flow data reveals persistent withdrawals, with a netflow reading of -$5.64 million. The negative netflows indicate tokens are leaving exchanges, reducing immediate sell-side supply.
Analysts note that strategic whale accumulation near established macro support zones often precedes meaningful structural market reversals. Sustained buyer conviction must eventually push price beyond descending channel resistance to confirm a trend transition.
