Galaxy Digital Deposits 500,000 Solana ($103M) To Coinbase In 5 Days – Details
Solana (SOL) has been one of many strongest performers within the altcoin house since April, sustaining a bullish but unstable uptrend that has captured investor consideration. While many altcoins have struggled with breakdowns and heavy promoting stress, Solana has managed to carry agency, exhibiting relative energy regardless of broader market uncertainty. Still, the momentum is being examined as SOL approaches vital resistance ranges that might decide its subsequent main transfer.
Some analysts warning that Solana might face profit-taking and pullbacks within the close to time period, with value probably dropping to decrease help zones earlier than any sustained rally can resume. The mixture of technical resistance and rising volatility makes this a decisive second for merchants watching whether or not Solana can break greater or consolidate additional.
Adding to the uncertainty, onchain data reveals that Galaxy Digital not too long ago transferred a large quantity of Solana to Coinbase, sparking hypothesis about potential institutional profit-taking. While these inflows don’t essentially affirm promoting, they usually sign preparation for liquidity occasions.
Massive Solana Transfer Sparks (*5*)
According to Lookonchain, Galaxy Digital has deposited 500,000 SOL (price roughly $103 million) to Coinbase over the previous 5 days, elevating eyebrows throughout the market. Such a big transfer by a serious institutional participant is commonly interpreted as preparation for liquidity occasions, whether or not meaning hedging, profit-taking, or reallocating capital into different belongings. While the precise motivation stays unsure, the transfer comes at a time when Solana is testing vital resistance ranges, making market contributors extra cautious.
This improvement has fueled hypothesis that Solana might transfer towards lower cost ranges within the close to time period. Some analysts argue that establishments could also be locking in good points after SOL’s robust efficiency since April, when the token started its bullish uptrend. Others counsel that capital could possibly be rotating into Ethereum or various large-cap initiatives, given the current surge in whale accumulation of ETH.
At the identical time, broader market situations add to the uncertainty. With Bitcoin struggling to reclaim momentum and Ethereum consolidating round demand ranges, many analysts see the crypto market as a complete getting into a sideways consolidation section. If that outlook proves right, Solana may face continued profit-taking stress as merchants look to safe good points earlier than the following main leg up.
Despite these headwinds, Solana’s resilience all through current volatility highlights its underlying energy as a community and funding car. The coming weeks can be essential to see whether or not Galaxy Digital’s switch marks the start of broader institutional promoting or just a short-term adjustment inside an extended bullish pattern.
Price Analysis: Testing A Pivotal Zone
Solana is at the moment buying and selling round $203.33, exhibiting resilience regardless of ongoing market volatility. The chart highlights a bullish construction that has been growing because the lows of May 2025, when SOL traded close to $120. Since then, the token has steadily climbed, reclaiming key shifting averages and now testing the vital $200–$220 resistance vary. This space has traditionally acted as a serious barrier, marking each native tops and heavy promoting zones in previous cycles.
The 50-day shifting common is trending above the 100-day and 200-day MAs, a bullish signal confirming Solana’s medium-term energy. However, the worth is struggling to shut convincingly above $210, indicating that sellers are nonetheless energetic at greater ranges. Profit-taking habits, additionally famous in current on-chain information, provides weight to this resistance.
If SOL manages to interrupt above $220 with robust quantity, the following upside targets may open towards $240 and $260, ranges final seen throughout its 2024 rally. Conversely, failure to carry above $200 might invite a pullback towards $180 and even $165, aligning with the 100-day MA and previous demand zones.
Featured picture from Dall-E, chart from TradingView
