Summary
- Increased Whale Accumulation: On-chain data shows a rising number of wallets holding 10,000+ SOL, indicating significant buying by large holders (“whales”) between April 11 and April 18, 2025.
- Market Significance & Confidence: This whale activity is notable as SOL consolidated between 100 and 150; historically, such accumulation precedes rallies and signals growing investor confidence despite market volatility.
- Current Price & Short-Term Indicators: Solana traded at $139.72 (up 1.6% daily, ~4% weekly) and remains above its 50-day SMA, suggesting potential for continued short-term gains.
- Expert Long-Term Outlook: Trading expert Ted Pillows predicts SOL could reach a new all-time high in Q3 2025, citing potential capitulation leading to a double bottom and consolidation below 200–220 resistance as signs of strength building for a breakout.
On-chain data reveals significant buying activity among large Solana (SOL) holders, often termed ‘whales,’ suggesting that the cryptocurrency might be positioned for a notable price appreciation.
Specifically, metrics sourced from Glassnode, an analytics platform focused on blockchain data, indicate a growth in the number of addresses possessing 10,000 SOLs or more.
This figure increased from 4,943 addresses recorded on April 11, 2025, to 5,019 addresses by April 18.
Coinciding with this accumulation phase, the value of SOL appreciated from $121.44 to $134.02, indicating strengthening belief among investors.
The Significance of SOL Whale Activity
This trend of accumulation by large holders is particularly noteworthy because the decentralized finance (DeFi) asset has been fluctuating within a defined price corridor between $100 and $150 for the preceding month.
Historically, substantial purchasing by whales has often served as a precursor to significant bull runs in the cryptocurrency space.
When these major participants commence extensive accumulation, it generally implies anticipation of positive future developments or more advantageous market environments.
Furthermore, their buying pressure can impact wider market perceptions and overall liquidity, potentially reinforcing the asset’s upward momentum.
Indeed, these large-scale investors have demonstrated renewed faith in SOL, despite the asset having navigated considerable price swings influenced by general market fluctuations.
While this increased activity from whales does not definitively assure a price surge, Solana has registered moderate increases shortly after the latest accumulation data became available, mirroring the positive movement observed in Bitcoin (BTC).
Analysis of SOL’s Price Trajectory
At the time of this writing, Solana’s market price was $139.72, reflecting a 1.6% gain over the last 24 hours and an approximate 4% rise over the previous week.
From a short-term perspective, Solana seems adequately supported for continued gains, as its current price is situated above its 50-day simple moving average (SMA), a common technical indicator.
Regarding the longer-term outlook, Ted Pillows, a noted expert in cryptocurrency trading, proposed in an X platform post on April 20 that SOL appears poised to reach a new peak price during the third quarter of 2025.
The expert suggested that SOL’s formation of lower lows might potentially trigger a capitulation event, possibly leading to a ‘double bottom’ pattern similar to what was observed in the fourth quarter of 2022.
Pillows also observed that the digital asset is currently consolidating beneath the critical resistance area between $200 and $220, suggesting it might be gathering momentum for an upward break.
Based on price patterns, he projected a possible climb towards the $160 to $180 range by May, with the potential for establishing a new all-time high in Q3 2025 should this historical pattern (fractal) repeat itself.
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