Solana Price Drops 9% Whales Unstakes 315,079 SOL – Can SOL Reclaim $144

Highlights:

• Solana price plunges 9% to $115, despite a spike in reading volume by 151%.
• A whale has unstaked 315,079 SOL and sent it to Binance, spreading worry in the SOL market.
• Can SOL bulls defy the bearish sentiment and reclaim the $144 key area, or will SOL drop further?

Solana’s price has tumbled 9% to $115 as the crypto market swims in a blood bath. Other leading altcoins, such as Bitcoin, Ethereum, and XRP, have also plunged 3%,5%, and 5%, respectively. This recent drop comes as US President Donald Trump announced the Reciprocal Tariffs, which have spread fear in the crypto market. However, SOL’s trading volume has spiked by 151%, indicating heightened market activity. 

On the other hand, a massive Solana move has happened, causing more worry in the SOL Market. According to Ted, a crypto investor and analyst, a Solana whale has unstaked 315,079 SOL worth $37.28 million and sent it to Binance. 

Solana whale just unstaked 315,079 $SOL worth $37.28 million and deposited it into Binance.

Help pic.twitter.com/ClaKTFUtQH

— Ted (@TedPillows) April 3, 2025

This has sparked a lot of fear in the market, despite the whale remaining with 277,209 SOL, worth $32.68M staked and 40,930 SOL held. 

Solana Price Outlook

The Solana price is not spared from the blood bath in the crypto market, as it continues to tumble to the downside. Currently, the SOL token is roaming at the lower boundary of the consolidation channel at $115. The bearish sentiment is evident as the Solana price trades below key moving averages. The Bears have taken dominance, showing the Bulls nothing but dust. 

If selling pressure mounts in the Solana market, more downsides will be witnessed. In such a case, the $111 support level would be tested. A breach below this crucial support area will call for a deeper correction to $81. 

Meanwhile, the bearish sentiment is blistering as technical indicators indicate intense selling activity. A closer look at the Relative Strength Index (RSI) shows it at around 36.16, indicating oversold conditions. Moreover, the southbound RSI shows a potential drop, which would signal intense bearish momentum.

On the other hand, the MACD indicator has made a bearish crossover, tilting the odds toward the bears. This is evident as the blue MACD line has flipped below the orange signal line, indicating intense selling. If the selling pressure mounts at this level, the Solana market will breach the $100 support level towards the $81 mark. 

Can Solana Build Enough Momentum to Break $144?

Solana’s price is pivotal, with traders anticipating a decisive move beyond the $144 barrier. A steady buildup of momentum could catalyze this breakout, especially if market sentiment turns more optimistic. Increasing trading volume and stronger bullish conviction may drive SOL past this barrier, unlocking new potential for further gains. The key lies in whether buyers can sustain the pressure needed to push the price into a higher range, shifting the current consolidation phase into a renewed uptrend. 

An increased buying appetite would rekindle a rebound past the $144 technical barrier in such a case. A breach above this level will ignite a short-term bullish trend that may see the bulls reclaim the $178 mark.

Solana remains one of the most robust blockchain ecosystems, thanks to its fast transaction speeds and low-cost infrastructure. Institutional interest continues to grow, with major projects choosing Solana for its scalability and efficiency. Recently, PayPal expanded its crypto offering to Solana for its US customers, increasing its adoption. With these developments, Solana’s price can rebound to $144.