Solana Price Under Selling Pressure as Whale Moves $25.3M in SOL

Solana price is trying to bounce back from its recent drop, but a large whale transfer to crypto exchanges has cast doubt on whether the rebound can last. As of press time, Solana price is trading at $108.74, up 2.06%, based on the TradingView chart provided. The rebound comes after Lookonchain reported that a whale deposited 240,000 SOL, worth roughly $25.3 million, into Binance, OKX, and Bybit over the last 24 hours. These transfers could add selling pressure if the tokens are sold, though exchange deposits on their own do not prove a sale has occurred. Traders are also monitoring technical indicators and derivatives positioning to judge whether SOL can sustain its recovery. Lookonchain flagged the whale’s activity in a post on X, reporting deposits to three major cryptocurrency exchanges.

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