Whales load up on Solana; Is a major SOL move on the cards?

Solana ( SOL ) is currently experiencing aggressive whale accumulation, an on-chain development that suggests the possibility of a price breakout. Specifically, the number of addresses holding 10,000 or more SOL stood at 4,943 on April 11, 2025, and climbed to 5,019 by April 18, according to data from on-chain cryptocurrency analytics platform Glassnode. During the same period, SOL’s price rose from $121.44 to $134.02, signaling growing investor confidence. Addresses with a balance of over 10k SOL. Source: Glassnode Why SOL whale activity matters This accumulation is notable, especially considering the decentralized finance ( DeFi ) token has been trading within a consolidation range of $100 to $150 over the past month. Historically, whale purchases have often preceded strong rallies in the crypto market. When large holders begin accumulating aggressively, it typically signals expectations of bullish developments or favorable market conditions. Their actions can also influence broader investor sentiment and liquidity, adding momentum to the asset. Indeed, large investors have shown renewed confidence in SOL, even as the asset has experienced high volatility in line with broader market sentiment. While this whale activity doesn’t guarantee a breakout, just days after the latest data was recorded, Solana is posting modest gains in line with Bitcoin’s ( BTC ) upward trajectory. SOL price analysis At the time of writing, Solana was trading at $139.72, up 1.6% over the past 24 hours and nearly 4% over the past week. SOL seven-day price chart. Source: Finbold In the short term, Solana appears well-positioned to continue its rally, as it is trading above its 50-day simple moving average ( SMA ). For the long-term outlook, cryptocurrency trading expert Ted Pillows noted in an X post on April 20 that SOL seems primed for a record high in Q3 2025. SOL price analysis chart. Source: Ted Pillows According to the expert, SOL has formed lower lows, which could lead to capitulation and a potential double bottom, similar to Q4 2022. Currently consolidating below the key $200 to $220 resistance zone, the analyst noted that the digital asset appears to be building strength for a breakout. Price action suggests a potential move toward $160 to $180 by May, with the possibility of a new all-time high in Q3 2025 if the fractal continues to unfold. Featured image via Shutterstock The post Whales load up on Solana; Is a major SOL move on the cards? appeared first on Finbold .

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