Solana

Gold

Million

<p>The post <a href="https://coinpedia.org/price-analysis/solana-whale-dumps-2-9-mln-of-sol-eyes-on-130-level/" rel="noopener noreferrer nofollow">Solana Whale Dumps $2.9 mln of SOL, Eyes on $130 level</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>In this extremely volatile cryptocurrency market, on August 20, 2024, a Solana whale was found dumping a notable 20,000 tokens worth $2.9 million to OKX and Binance, as reported by Lookonchain. According to a post on X (formerly Twitter), the whale dumped 10,000 SOL worth $1.45 million to OKX and another 10,000 SOL worth $1.45 million to Binance.</p>
<h2 class="wp-block-heading" id="h-solana-whale-dump-million-worth-tokens-nbsp"><strong>Solana Whale Dump Million Worth Tokens&nbsp;</strong></h2>
<p>According to data, this dump occurred during the opening bell of the US stock market. Since January 15, 2024, this whale has dumped over 614,000 SOL worth $89 million to various centralized exchanges (CEXs).&nbsp;</p>
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   <p lang="en" dir="ltr">The whale sold 20,000 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SOL</a>($2.9M) again 12 hours ago.<br><br>The whale has sold 614K <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SOL</a>($89M) since Jan 15!<a href="https://t.co/vUcUWDVLLf" rel="noopener noreferrer nofollow">https://t.co/vUcUWDVLLf</a> <a href="https://t.co/JgaFw69wua" rel="noopener noreferrer nofollow">pic.twitter.com/JgaFw69wua</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1825722439705440390?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 20, 2024</a>
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<h3 class="wp-block-heading" id="h-solana-price-overview"><strong>Solana Price Overview</strong></h3>
<p>Despite this massive <a href="https://coinpedia.org/news/solana-spot-etfs-face-setback-as-us-sec-rejects-19b-4-applications-by-cboe/" rel="noopener noreferrer nofollow">SOL dump</a>, it didn’t impact the SOL price significantly. At press time, SOL is trading near $142.7 and has experienced a price drop of 1%. However, during the Asian trading hours market was quite bullish, with SOL making a high of $148.6. However, as Gold reached a new all-time high, it affected the overall cryptocurrency market, including SOL.</p>
<p>Meanwhile, SOL’s trading volume has increased by over 16% in the last 24 hours, indicating higher participation from traders.</p>
<h2 class="wp-block-heading" id="h-solana-price-prediction-nbsp"><strong>Solana Price Prediction&nbsp;</strong></h2>
<p>This sharp fall from $148.6 to $142.04 level has shifted the market sentiment to bearish. According to expert technical analysis, SOL is currently at a crucial support level of $140, while also getting support from the 200 Exponential Moving Average (EMA) on a daily time.</p>
<figure class="wp-block-image size-large"><a href="https://image.coinpedia.org/wp-content/uploads/2024/08/20210055/SOLUSDT_2024-08-20_21-00-40-1024x449.png" rel="noopener noreferrer nofollow"><img decoding="async" width="1024" height="449" src="https://image.coinpedia.org/wp-content/uploads/2024/08/20210055/SOLUSDT_2024-08-20_21-00-40-1024x449.png" alt="" class="wp-image-340699" srcset="https://image.coinpedia.org/wp-content/uploads/2024/08/20210055/SOLUSDT_2024-08-20_21-00-40-1024x449.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/08/20210055/SOLUSDT_2024-08-20_21-00-40-300x131.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/08/20210055/SOLUSDT_2024-08-20_21-00-40-768x336.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/08/20210055/SOLUSDT_2024-08-20_21-00-40-1536x673.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/08/20210055/SOLUSDT_2024-08-20_21-00-40-150x66.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/08/20210055/SOLUSDT_2024-08-20_21-00-40.png 1824w" sizes="(max-width: 1024px) 100vw, 1024px"></a>
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<p>It is crucial for SOL to stay above the 200 EMA, if it holds, there is a high possibility that the price will rebound. On the other hand, If SOL fails to hold and drops below the 200 EMA, there is a high chance it could fall to the $130 level or even lower.</p>
<p>Meanwhile, SOL’s open interest has also dropped by 1.5% in the last 24 hours, suggesting reduced interest from traders and investors.</p>

Solana Whale Dumps $2.9 mln of SOL, Eyes on $130 level

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