Main to remember
Sol shows strong support from buyers. But the sales of coordinated whales and the great risk of increasing distribution of Alameda, which put support of $ 170.
Solana (soil) Briefly slipped to $ 173, which allowed $ 15 million, before rebounding quickly – a demonstration of buyers’ resilience.
However, historical trends warn that once Sol breaks resistance, it often faces a rapid capitulation. Could the sales of current whales be a precursor of such a shaking?
Sales pressure of heavy whales emerging
We are ten days in August and the relative weakness of Solana is quite clear.
Soil cannot pass in front of the $ 200 level, which has only been 1.07% so far this month, while Ethereum (ETH) fled with a strong gain of 15.75% within the same period.
The gap further widens on quarterly graphics, ETH offering a king of 72% massive compared to 12.8% much softer in soil. In fact, in chain, the whales are starting to unload, moving on 226K soil towards exchanges.
Source: Arkham
In particular, a Big Whale reserve took a huge blow, lowering 71% in less than two days, going from $ 24 million to $ 6.8 million.
It is a huge value of $ 17.2 million in soil sold, reporting serious sales pressure from a single player.
The critical question is now whether this distribution signals an upward momentum, making $ 200 a difficult target for the moment, or simply a brief break before Sol grows above.
Alameda soil relaxation increases the stakes for bulls
At first glance, the weekly withdrawal from Solana of 2.35% seems low compared to other active ingredients, probably pulled by a larger risk rotation rather than by something specific to Solana.
However, deeper forces were at stake. An Alameda Research portfolio was put at $ 35 million on the ground since the end of 2020, worth $ 350,000 – a gain of 100 times.
Source: Arkham
However, the net position of soil remains positive, supporting the consolidation of prices more than $ 170. This is a notable divergence from previous risk periods, where the net position overturned negative and the capitulation has settled.
The line of $ 170 in the sand
This defines soil at a critical inflection point. The depth of the purchase has not yet collapsed, but the sale of pressure is clearly built. The synchronization between major whale sales and non-delai activity indicates a coordinated distribution.
If $ 170 does not hold support, expect an increase in risks, which makes Solana a must for short-term momentum changes.
