The key moment of SOL has arrived! Whale buying vs. unlocking pledge
This morning, a big whale just dumped 110 million U to increase positions in BTC and SOL long positions, with 5x BTC and 20x SOL, directly showing bullish positions. This person had previously ambushed and made over ten million dollars; their instincts are truly sharp!
But the reversal is coming soon, as bad news hits: FTX has unlocked nearly 200,000 SOL at once, worth over twenty million dollars, and is about to dump them into Binance. This is not the first time; over the past year, they have offloaded nearly one billion dollars, with an average price around 135 dollars. What does this mean? The selling pressure is clearly laid out above.
Looking at the chart, SOL is now stuck at a critical position, repeatedly hovering around 136, with resistance above at 145 and support below at 128-120. The RSI indicator has already surged above 70, showing clear overbought signals, and although the MACD has a golden cross, the position is relatively high, making it very difficult to push up in the short term. The trading volume has not significantly increased, indicating insufficient follow-up funds.
My view is straightforward: the big whale is bullish, FTX is secretly running away, a typical scene of bulls and bears fighting. Chasing high now is a gamble, betting that the whale has enough money to absorb the selling pressure. But retail investors should not get too excited; FTX still has over 4 million SOL pledged, and they could continue to dump at any time. At this position, it is better to miss out than to chase the rise.
What should retail investors do?
Don't rush to go all in; wait patiently. If it stabilizes above 140 and shows volume, then consider adding a bit; if it falls back to the 128-120 support range, you can buy in batches. Remember, when news is flying around, looking at price action is the most reliable—don’t trust “immediate skyrocketing” until it breaks through the previous high.
Follow me, keep a close eye on SOL's movements in the next few days, and I will notify you as soon as there are signs of a trend change. Whether the whale pulls hard or FTX breaks through, we will witness it together.
Hit follow, and don’t get lost in chasing tops and bottoms!
For those who want to keep up with the thought process, there's a spot in the chatroom!
