The post Whales Hold Record-Breaking Levels of SOL appeared on BitcoinEthereumNews.com.

Solana (SOL) price is up less than 1% in the last 24 hours but has gained 21% over the past 30 days, with its market cap reaching $115 billion. With the recent consolidation, SOL’s trend remains undefined, as reflected in its DMI and EMA indicators. Whale activity has also stayed elevated, with addresses holding at least 10,000 SOL near record levels, signaling continued interest from major investors. Key support and resistance levels will determine whether SOL can recover an uptrend or face further declines in the coming days. Solana DMI Suggests the Trend Remains Unclear Solana Directional Movement Index (DMI) shows that its ADX is currently at 19.7, having fluctuated between 20 and 23 over the past three days. The Average Directional Index (ADX) measures the strength of a trend, regardless of its direction. Typically, an ADX value below 20 indicates a weak or indecisive trend, while a value above 25 signals a stronger and more defined trend. SOL DMI. Source: TradingView The +DI, representing bullish pressure, has risen to 19.5 from 13.6 a day ago, indicating increasing buying momentum. Meanwhile, the -DI, reflecting bearish pressure, has dropped significantly to 22.4 from 35.8, suggesting waning selling momentum. With its ADX at 19.7, SOL appears to be recovering from a downtrend, but the trend remains weak and undefined. A more decisive movement in the +DI and -DI, coupled with an ADX above 25, would provide clearer signals for SOL’s next direction. Solana Whale Numbers Drop From ATH The number of SOL whales – addresses holding at least 10,000 SOL – has risen significantly, climbing from 5,054 on January 17 to an all-time high of 5,167 on January 25. Although it has slightly declined to 5,145, it remains near record levels, reflecting sustained interest from large holders. SOL Whale Addresses. Source: Glassnode…

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Filed under: News - @ January 28, 2025 11:17 pm