Solana (SOL): A Surge in Whale Accumulation Signals Potential Price Breakout
The cryptocurrency market is abuzz with activity as Solana (SOL) witnesses an aggressive accumulation spree by whales. This on-chain development indicates a potential price surge, drawing significant attention from investors and analysts alike.
Increasing Number of Large SOL Holders
According to the latest data from Glassnode, a leading on-chain cryptocurrency analytics platform, the number of wallets holding 10,000 or more SOL has shown a noticeable increase. On April 11, 2025, there were 4,943 such addresses, which rose to 5,019 by April 18, 2025. This uptick in large holdings coincides with a price rise from $121.44 to $134.02, reflecting enhanced investor confidence in SOL’s potential.
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Understanding the Significance of Whale Activity in SOL
The accumulation by whales is particularly significant, as Solana has been trading within a consolidation range of $100 to $150 over the past month. Historically, when whales start accumulating in substantial amounts, it often precedes significant rallies in the cryptocurrency market. Large holders signaling their bullish outlook can influence broader market sentiment, enhancing liquidity and driving momentum for the asset.
Despite experiencing high volatility, Solana has managed to attract renewed interest from large investors. While whale activity alone does not ensure a breakout, it does align with Bitcoin’s (BTC) upward trend, suggesting potential gains for SOL.
Analyzing Solana’s Price Trajectory
As of the latest update, Solana is trading at $139.72, marking a 1.6% increase over the past 24 hours and nearly a 4% rise over the past week. This upward trend positions Solana well for continued growth, as it is currently trading above its 50-day simple moving average (SMA).
Future Outlook for Solana
In a recent analysis, cryptocurrency trading expert Ted Pillows noted that Solana is on track for a potential all-time high in Q3 2025. According to Pillows, SOL’s formation of lower lows could lead to capitulation and a possible double bottom, similar to the trends observed in Q4 2022.
Currently, Solana is consolidating below the crucial $200 to $220 resistance zone. The digital asset appears to be gathering strength for a breakout, with price action suggesting a move toward the $160 to $180 range by May. If the current fractal pattern continues, SOL could indeed achieve new heights by the third quarter of 2025.
The cryptocurrency market remains dynamic and ever-evolving, and Solana’s current trajectory highlights the potential for significant growth. Investors and market observers should keep a close watch on these developments as the landscape continues to change.
