- Whale activity and strong retail sentiment indicated Solana’s potential for price movement.
- Solana’s development progress and social engagement supported a bullish outlook toward resistance at $153.65.
Solana [SOL]’s recent whale activity has drawn attention, with a large transfer of over 17,481 SOL to Kraken after two years of staking.
At press time, SOL was trading at $148.52, reflecting a 1.74% decline over the past 24 hours. This price dip comes amid increasing speculation and social interest, driven in part by whale moves.
The market’s reaction to this activity could provide insights into Solana’s next major price movement, which is being closely monitored by both retail and institutional investors.
Sentiment surge: Are retail and smart money aligned?
Solana’s sentiment has fluctuated recently, with a weighted sentiment reading of -0.47 on the 26th of April 2025. Despite this, crowd sentiment remained strong at 1.81, indicating ongoing optimism among retail investors.
Meanwhile, smart money sentiment stood at 0.88, showing more caution among institutional players. This difference in sentiment highlights the contrasting views of retail and institutional investors.
Retail investors are optimistic about Solana’s future, while institutional players are more cautious due to the recent price dip. The mix of these sentiments may lead to short-term volatility, but the long-term outlook remains bullish.
Source: Santiment
Strong foundations: SOL’s development activity remains solid
Solana’s development activity remained robust, with a reading of 25.81 as of the 27th of April 2025. This steady level of development activity suggests that Solana’s network is in a strong position for long-term growth.
Despite fluctuations in price, solid development progress is a fundamental driver of network adoption, making the blockchain more scalable and efficient.
Strong development activity helps boost investor confidence and signals that the team is actively working on improvements.
Source: Santiment
Social buzz: Solana dominates the crypto conversation
Solana has seen a significant spike in Social Volume, reaching 216, at the time of writing, with Social Dominance at 8.3%. The increase in social media activity suggests that Solana is capturing the attention of the broader crypto community.
Social Volume refers to the number of times Solana is mentioned across social platforms, while Social Dominance measures its prominence in comparison to other cryptocurrencies.
This uptick in social activity could signal a growing interest among retail investors, and it’s likely to affect short-term price action.
Source: Santiment
Technical price structure: SOL approaches key resistance at $153.65
At the time of writing, the coin was approaching a crucial resistance level at $153.65. Solana is forming a cup-and-handle pattern, which typically signals a potential breakout.
The MACD indicator showed a bullish divergence, with the MACD line above the signal line, further supporting the possibility of a breakout. If SOL manages to break through this resistance, the next target could be $180.
However, if Solana is rejected at this level, it may face a period of consolidation or a pullback. Traders are closely watching this resistance level, as breaking it could signal a strong bullish trend for Solana.
Source: TradingView
Solana’s market continues to be shaped by whale activity, fluctuating sentiment, and ongoing development. With Social Volume on the rise and technical indicators pointing toward a breakout, Solana is primed to test key resistance at $153.65.
If SOL breaks through this critical resistance level, it is likely to experience significant upward movement, targeting higher price levels.
