Solana Price Cools Off, But Whales Load Up for a Rebound?

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The Solana price isn’t exactly screaming strength right now. Volume bubble maps across both spot and futures markets show a clear cooling trend after what can only be described as overheating phases. And right now? Sell pressure is dominating.

If you zoom out on the Solana price chart, the pattern since 2021 is pretty consistent. After every volume exhaustion phase, there’s a neutral reset. Accumulation begins quietly, marked by mild “heating” traces, before eventually sliding into another overheating cycle. That’s the rhythm.

At the moment, we’re stuck in the green zone meaning bears haven’t stepped aside. The market still looks vulnerable, and price action suggests a potential solid demand area sitting around $48 to $50.

Solana Price Faces Volume Reset

Here’s the uncomfortable truth: stable footing won’t come until volume across both spot and futures resets to neutral. Historically, that neutral zone is where real accumulation builds.

Right now, though, open interest has dropped sharply from $3.88 billion down to $2 billion. That’s not subtle. Leverage has been wiped out. Yet funding rates are recovering from the red zone toward the 0% line.

Translation? Some futures traders are quietly reopening leveraged long positions even while the broader downtrend remains intact.

The SOL/USD structure still leans weak, but derivatives positioning hints that at least a segment of the market believes the worst might be priced in.

Whales Bet Against the Trend

Now here’s where it gets interesting. Despite the bearish tape and heavily negative weighted sentiment at 0.798, certain large players are going the other way. One whale deposited $2 million in USDC and opened a 20× leveraged long position on Solana. That’s not defensive behavior but that seem’s like his conviction for a relief rally.

Whale "0x4A2" deposited $2M $USDC into #HyperLiquid and increased its $SOL (20x) long position and still has an open order to further increase the position.

The whale also holds a $ETH (20x) long position valued at $11.14M.https://t.co/phu0w0FPui pic.twitter.com/iJCXCQJWIe

— Onchain Lens (@OnchainLens) February 23, 2026

There’s more. The percentage of stablecoin supply held by wallets above $5 million on the Solana network is rising. That suggests whales are accumulating dry powder within the ecosystem rather than exiting it. In on-chain terms, it’s often viewed as a positioning phase ahead of tactical deployments.

Relief Rally Before Deeper Drop?

Long-term sentiment still tilts bearish. A move toward the $48–$50 region carries higher probability than a straight-line recovery. And yet, short-term signals also hint at a mood shift.

Daily active addresses are rising. New contracts are being deployed. Network fees are climbing. Utilization is up. Markets don’t usually fall in straight lines, and if accumulation is quietly forming, a relief rally isn’t off the table.

A bounce from the $75–$80 support area could ignite a move toward $160 before heavier sell pressure returns. That’s not a trend reversal but that could be a potential tactical rally within a broader downtrend.

So what does this mean for Solana price prediction narrative?

Simple. Structurally weak. Tactically interesting. Until volume resets and accumulation confirms on the Solana price chart, the Solana price remains caught between exhaustion and opportunistic whale positioning.