TL;DR:
- Massive Movement: A wallet inactive for ten months withdrew 300,439 SOL (approx. $26.1M) from staking to send them directly to the Binance exchange.
- Price Zones: The asset remains trapped in a critical technical range, with solid support at $78.50 and persistent resistance at $97.72.
- Network Metrics: Net flows to exchanges show a positive trend of $20.88 million, suggesting a greater retail willingness to sell.
A Solana whale movement was detected from an inactive account, setting off alarms in the ecosystem and entering an alert phase. The investor transferred tokens valued at $26.1 million to a centralized exchange, sparking fears of an imminent liquidation.
Whale AMekyY unstaked 300,439 $SOL($26.1M) after 10 months of inactivity and deposited it into #Binance 1 hour ago.https://t.co/p57hh4ET7r pic.twitter.com/1C3sGCGI0p
— Lookonchain (@lookonchain) April 27, 2026
A whale reactivating is often the precedent for a massive distribution phase. Currently, SOL’s RSI is at 49.74, which is considered a neutral level reflecting a lack of conviction from buyers against the increased liquidity in sell order books.
The behavior of large holders seems to indicate a strategic repositioning that could compromise Solana’s price stability in the short term. If the market fails to absorb this flow, the current consolidation structure could aggressively break to the downside.
Persistence of flows and the risk of long liquidation
Beyond the individual activity of large investors, flows to exchanges maintain a constant upward trend. This metric reinforces the thesis that market participants are preparing their assets for a possible exit.
On the other hand, derivatives data shows that the Open Interest (OI) weighted funding rate is now positive, reaching 0.0032%. This indicates that long position traders are dominating leverage, albeit without price success.
This accumulation of long positions in a stagnant price environment is dangerous. If the SOL price drops below the $78.50 support, it could trigger a wave of forced liquidations that would accelerate the asset’s correction.
As supply on exchanges grows and demand fails to break the $97.72 barrier, the technical outlook becomes vulnerable. The inability to reclaim higher structures confirms that the market is in defensive mode.
The combination of a Solana Whale selling, positive flows to exchanges, and a stagnant RSI suggests that the path of least resistance for SOL remains sideways or bearish, with a high probability of increased volatility in the coming days.
