The post Solana Faces Resistance Below $140 as Whale Activity Signals Potential Risks and Market Sentiment Concerns appeared on BitcoinEthereumNews.com.

Solana’s recent price movements signal uncertainty and caution as whale exits and key resistance levels threaten to derail its recovery. Despite a rebound to around $125, significant selling pressure from major holders raises concerns about the sustainability of these gains. According to data from COINOTAG, “The high level of selling activity suggests that many investors are still looking to offload their positions despite recent upticks.” Solana faces challenges as whale exits pressure its rebound, with key resistance levels in focus and heightened risks for investors in the volatile crypto landscape. Key Resistance Levels and Market Sentiment In recent trading sessions, Solana (SOL) has struggled to maintain upward momentum, prompting deeper analysis into market dynamics. The intersection of whale activity and supply zones presents a complex picture. Buying pressure from retail investors seems insufficient to overcome the resistance at the crucial $140 mark, where many larger holders are positioned. The Impact of Whale Activity on Price Movement Whales, or large holders, have been engaging in aggressive selling tactics, as indicated by recent on-chain analysis. The liquidation of 274,188 SOL by a prominent whale at an average price of $108 has implications for future pricing dynamics. With a significant number of whales still holding positions well above current levels, continued selling pressure is likely if the price oscillates near resistance levels. Analysis of On-Chain Data Delving further into on-chain metrics, the UTXO Realized Price Distribution (URPD) offers valuable insights. It reveals strong supply concentrations at $100, $120, and notably, $140, where the largest share of SOL is held. This clustering indicates substantial unrealized losses for many investors, contributing to overall market hesitation. The $140 resistance is especially significant, as over 27.8 million SOL are concentrated at this price, equating to roughly 4.75% of circulating supply. Source: Glassnode The Chance of a Trend…

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Filed under: News - @ April 13, 2025 8:15 am