Solana News: Whales May Be Moving Ahead Of Possible SOL Price Drop

Key Insights:

• Solana news showed that over 62,000 dormant SOL wallets became active after more than a year.
• Solana DEXs recorded higher spot trading volume than several major exchanges.
• SOL price remains below key resistance as traders watch important support levels.

Solana news has turned to whale activity after more than 62,000 dormant wallets returned to Solana DEXs in one week. At the same time, trading volume on Solana stayed ahead of several major exchanges, while chart data shows the SOL price is still below an important resistance level.

Dormant Wallets Return As Solana News Draws Market Attention

Solana news is focused on a sharp increase in old wallets becoming active again. Data shared by Solana Daily showed that more than 62,000 dormant wallets that had not been active for at least 12 months returned to Solana decentralized exchanges last week.

That number was four times higher than the week before. It was also the highest level of wallet reactivation seen in more than a year.

The data does not explain who owns the wallets or what they plan to do with their funds. Even so, many traders are paying close attention because large holders often move their assets before important market moves.

There is no proof that these wallets are preparing to sell. They could also be moving funds, changing wallets, or getting ready to trade after staying inactive for a long time.

Still, the timing has made many people ask whether experienced holders are seeing something that the wider market has not noticed.

This activity is also happening while the SOL price remains under pressure on the charts. That has added to the interest around the recent wallet movements. Per Solana news reporting, on-chain data is only one part of the market, and it cannot confirm what will happen next.

However, when thousands of long inactive wallets suddenly become active together, traders usually keep a close watch for any change in market direction. For now, the return of these wallets has become one of the biggest talking points around Solana.

Solana DEX Trading Stays Strong

Another part of the latest Solana news is the strong trading activity on Solana decentralized exchanges. Data shared by market researcher Zensei showed that Solana DEXs recorded more seven-day spot trading volume than Bybit, Coinbase, and Kraken.

It was the fourth straight week that Solana finished ahead of some of the biggest names in the crypto market. The figures show that many traders are still using Solana-based platforms despite the recent price swings.

Strong trading volume does not always mean prices will move higher. It simply shows that buying and selling activity remains high. That is why many traders are looking at both trading data and wallet activity instead of relying on only one signal.

The steady flow of trades also shows that interest in the network has not disappeared even though the Solana price has not broken into a clear uptrend.

SOL Price Still Faces Important Levels

Chart data shared by MCO Global suggests the recent recovery in the SOL price may not be enough to confirm that the market has changed direction. The analysis says Solana is still trading inside a wider downtrend. The recent rise is seen as a short-term recovery instead of the start of a fresh rally.

According to the chart, the price could still move higher if it breaks through the key resistance at $98.50. A strong break above that level would give buyers a better chance of taking control.

On the downside, $64.30 is the key level to watch. A drop below that price would strengthen the view that the recent bounce has ended. If that happens, the next support levels are $48.80 and $43.22.

However, the targets are based on the chart shared by the analyst and are not financial advice. Investors must connect with a financial expert or conduct thorough research, as cryptocurrencies often showcase higher volatility.

For now, traders are watching several things at the same time. The return of thousands of old wallets, strong trading activity on Solana DEXs, and the current SOL price chart are all being watched closely. Together, they have made Solana news one of the main stories in the crypto market this week.

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