Solana slips below $130, but onchain data suggests SOL remains bullish

💡 DMK Insight

SOL’s current price drop to $125.93 might seem concerning, but here’s the twist: whale accumulation is on the rise. This suggests that larger players see value at these levels, especially with exchange supply dwindling. When whales accumulate, it often signals a potential price floor, indicating that a rebound could be on the horizon. Coupled with strengthening on-chain metrics, this paints a picture of underlying strength despite the price action. Traders should be aware that while the immediate sentiment may lean bearish, the fundamentals are shifting. Keep an eye on the $120 support level; if it holds, it could trigger a wave of buying interest. Conversely, a break below could lead to further declines. Watch for any spikes in trading volume as a sign of renewed interest, particularly from institutional players who might be looking to capitalize on the dip.