Solana Witnesses Surge in Large Investor Holdings Sparking Breakout Speculation
A noteworthy pattern is emerging within the Solana (SOL) ecosystem: large-scale investors, often dubbed ‘whales,’ are significantly increasing their positions.
This discernible on-chain activity hints at a potential undercurrent that could soon propel SOL’s price out of its recent standstill.
On-Chain Evidence of Whale Accumulation
Blockchain analytics reveal a quantifiable increase in concentrated ownership.
Data from Glassnode confirms that between April 11th and April 18th, 2025, the count of digital wallets holding 10,000 SOL or more grew from 4,943 to 5,019.
This was not merely hoarding; it was accompanied by a noticeable price increase, with SOL rising from $121.44 to $134.02 in the same week, indicating a growing confidence among market participants.
Why Whale Activity Commands Attention
Why does this accumulation by major players warrant attention? This trend is primarily due to the stark contrast with Solana’s recent performance.
For the past month, the DeFi token has been navigating a relatively tight channel between $100 and $150.
Historically, such decisive moves by whales—accumulating assets vigorously—often act as a precursor to broader market upswings.
It suggests these large entities anticipate favorable winds, either through specific protocol developments or improved overall market conditions.
Their actions also inject liquidity and can sway the sentiment of the wider investing public, potentially creating a self-reinforcing cycle of upward momentum.
Despite Solana navigating the choppy waters of market volatility alongside other major cryptocurrencies, this renewed conviction from significant investors is apparent.
Although the increased presence of whales doesn’t guarantee an immediate price explosion, Solana has already begun to register modest gains after this accumulation period, following Bitcoin’s recent upward trend.
Current Market Position and Technical Strength
Currently, Solana trades at $139.72, marking a 1.6% increase in the last day and nearly 4% over the week.
Its immediate trajectory looks promising, technically supported by its position above the 50-day simple moving average (SMA).
Expert Analysis and Long-Term Price Targets
Looking further ahead, crypto trading analyst Ted Pillows offered a longer-term perspective via an X post on April 20th.
He posits that Solana might be laying the groundwork for a new record valuation in the third quarter of 2025.
Pillows point to the formation of lower lows, suggesting a potential phase of investor capitulation that could establish a “double bottom”—a chart pattern reminiscent of SOL’s Q4 2022 behavior.
He observes the asset currently consolidating its strength beneath the crucial 220 resistance barrier, potentially preparing for a decisive upward thrust.
If this historical pattern (fractal) continues its course, Pillows foresees a possible climb towards the 160-180 region by May, ultimately setting the stage for a potential new all-time high later in Q3 2025.
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