8-5-2025 – Solana (SOL) has clung tenaciously to its vital $143.5 support level, buoyed by a timely resurgence in Bitcoin (BTC), averting a more severe collapse. On 6 May, as the broader digital asset market reeled from steep declines, SOL momentarily slipped beneath this critical threshold, only to be propelled back to stability by a sharp 3% uptick in BTC’s value, which sparked a broader market recovery.
At the time of reporting, SOL had climbed 2.75% to hover around $147.50, having touched an intraday peak of $150.7. This swift rebound ignited a surge in market activity, with trading volumes soaring by 40% over the past day, drawing keen interest from investors navigating the choppy waters of crypto volatility.
Yet, beneath this recovery lies a ripple of uncertainty. A prominent Solana whale, roused by the market’s erratic swings, has unstaked a hefty 120,197 SOL—valued at $17.55 million—and transferred it to Binance, according to Onchain Lens. This substantial sum, locked away for six months, yielded the whale a reward of 3,802 SOL but still resulted in a stinging $7.8 million loss. Such a large-scale movement to an exchange often signals an intent to sell, potentially casting a shadow over SOL’s near-term prospects by intensifying selling pressure.
From a technical perspective, AMBCrypto’s analysis paints a picture of cautious optimism. Over the past fortnight, SOL has been locked in a narrow trading band between $143.5 and $154, following a decisive break above the $143 resistance. This consolidation, far from a sign of weakness, is often a precursor to bullish momentum, suggesting the asset is gathering strength for its next move. Should SOL breach the $154 ceiling, analysts project a potential 15% rally, eyeing the $180 mark. Conversely, a slip below $143.5 could see prices tumble to $132 in the short term.
Adding depth to this outlook, a respected crypto analyst on X highlighted $120 as Solana’s most robust historical support, a level that has consistently sparked price reversals during market downturns. Should volatility drag SOL lower, this zone could emerge as a prime opportunity for savvy investors to capitalise on a dip.
