{"id":828392,"date":"2025-02-20T08:11:22","date_gmt":"2025-02-20T14:11:22","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/02\/20\/solana-whale-moves-20m-off-binance-bullish-signal-or-trap\/"},"modified":"2025-02-20T08:11:22","modified_gmt":"2025-02-20T14:11:22","slug":"solana-whale-moves-20m-off-binance-bullish-signal-or-trap","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/02\/20\/solana-whale-moves-20m-off-binance-bullish-signal-or-trap\/","title":{"rendered":"Solana Whale Moves $20M Off Binance, Bullish Signal or Trap?"},"content":{"rendered":"
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As the overall cryptocurrency market hints at signs of price recovery, a crypto whale identified Solana (SOL) as an ideal asset and placed a significant bet.<\/p>\n

Whale Buys $20 Million Worth Solana (SOL)<\/strong><\/h2>\n

Today, February 19, 2025, the blockchain-based transaction tracker Lookonchain posted on X (formerly Twitter) that a whale wallet address \u201cAA21\u2026VxH9\u201d moved 123,500 SOL worth $20.80 million from Binance.<\/p>\n

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This substantial SOL transfer from Binance during market recovery appears to be a potential accumulation, which could create buying pressure and drive further upside momentum. However, Solana (SOL) has not reacted significantly, as its price remains unchanged.<\/p>\n

Solana\u2019s Current Price Momentum<\/strong><\/h3>\n

At press time, the asset is trading near $169, experiencing a modest 1% upward momentum in the past 24 hours. However, during the same period, its trading volume dropped by 20%, indicating that traders and investors are still hesitant to participate in the asset.<\/p>\n

Solana (SOL) Technical Analysis and Key Levels<\/strong><\/h2>\n

The potential reason behind this fear is the recent breakdown of the crucial support level at $180, which SOL <\/a>failed to hold. Additionally, it has fallen below the 200 Exponential Moving Average (EMA), indicating that the asset is in a downtrend.<\/p>\n

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Source: Trading View<\/figcaption><\/figure>\n

Based on recent price action and historical patterns, it appears that SOL is bearish, with a high probability of staying between $160 and $180 until it crosses the $190 mark. However, if the bearish sentiment and price decline continue, and SOL falls below the $160 level, there is a strong possibility it could drop another 20% to reach $120 in the future.<\/p>\n

Traders\u2019 $145 Million Worth Long Bet\u00a0<\/strong><\/h2>\n

Despite this bearish outlook, traders and investors seem unaffected, as they continue accumulating and betting on the token, according to on-chain analytics firm Coinglass<\/a>.<\/p>\n

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Source: Coinglass<\/figcaption><\/figure>\n

According to the data, traders betting on the bullish side are currently dominating the asset, as they are over-leveraged at the $162.8 level and hold $145 million worth of long positions. This over-leveraged level suggests that traders believe SOL\u2019s price won\u2019t fall below this point, which currently acts as strong support.<\/p>\n<\/div>\n

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\n Chandan Gupta<\/p>\n","protected":false},"excerpt":{"rendered":"

As the overall cryptocurrency market hints at signs of price recovery, a crypto whale identified Solana (SOL) as an ideal asset and placed a significant bet. Whale Buys $20 Million Worth Solana (SOL) Today, February 19, 2025, the blockchain-based transaction tracker Lookonchain posted on X (formerly Twitter) that a whale wallet address \u201cAA21\u2026VxH9\u201d moved 123,500<\/p>\n","protected":false},"author":1,"featured_media":828393,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47657,26957],"tags":[],"class_list":{"0":"post-828392","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-solana","8":"category-whale"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/828392","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=828392"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/828392\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/828393"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=828392"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=828392"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=828392"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}