The post Whale Addresses Accumulate $18.6M as Support Holds appeared on BitcoinEthereumNews.com.

TLDR Two major Solana whales have reactivated after periods of dormancy, with one accumulating 61,319 SOL ($12.4M) and another acquiring 30,901 SOL ($6.24M) Market analyst VipRoseTr predicts potential SOL price targets of $296, $339, and $384, citing strong support levels Solana is currently trading around $196-204, showing relative stability with a modest 2% weekly gain A bearish trend line has formed with resistance at $198, with key support levels at $194 and $188 Technical indicators show the MACD gaining momentum in the bullish zone, with RSI above 50 Two previously inactive Solana whale addresses have sprung back to life, accumulating a combined $18.6 million worth of SOL tokens. The purchases come as the cryptocurrency consolidates near the $200 price level, drawing attention from market participants and analysts alike. On-chain data reveals that a wallet identified as “5qDx” broke its two-month silence by withdrawing 61,319 SOL tokens, valued at approximately $12.4 million, from cryptocurrency exchanges Binance and OKX. The purchase was made at an average price of $202.53 per token. This particular whale has demonstrated profitable trading behavior in the past. Between December 27, 2023, and November 30, 2024, the address completed two SOL trades that resulted in an estimated profit of $8.47 million, representing a 38.9% return on investment with a 100% win rate. A second whale address, labeled as “GJwCU,” emerged from a year-long period of inactivity to acquire 30,901 SOL tokens, worth approximately $6.24 million. This wallet has also shown previous success in its trading activities, having recorded an $8.15 million profit from earlier transactions. The timing of these purchases has caught the attention of market analysts, including VipRoseTr, who has outlined several price targets for Solana. The analyst suggests potential upside movements to $296.38, $339.55, and $384.56, based on technical analysis and support level observations. Techincal Analysis…

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Filed under: News - @ February 13, 2025 3:26 pm