Whale Moves $20.8M in SOL from Binance, Is a Rally Coming?

A crypto whale with the wallet tag “AA21…VxH9″ moved 123,500 SOL, worthy $20.80 million, from Binance today, according to Lookonchain. 

The ample transportation happened portion the marketplace was recovering, with signs of accumulation. However, Solana’s terms has not reacted much, arsenic it inactive stays astir its caller levels.

As of now, Solana (SOL) is priced astatine $172, up 6% successful the past 24 hours. But its trading measurement has dropped by 28% according to Coinmarketcap.

SOL has precocious fallen beneath its $180 enactment and has besides moved beneath the 200 EMA (Exponential Moving Average), which is an indicator of a bearish direction.

Based connected the illustration via TradingView, SOL mightiness beryllium stuck betwixt $160 and $180 unless it breaks supra $190. If the terms falls beneath $160, it could driblet different 20% to $120. For now, the marketplace is waiting to spot if buyers measurement successful oregon if the terms keeps falling.

Nevertheless, immoderate traders are inactive betting that SOL’s terms volition spell up. The information from Coinglass showed that determination are $145 cardinal successful agelong positions astatine the level of $162.8. 

This shows that tons of traders are assured that SOL volition not driblet beneath this level, which makes it a beardown enactment portion for now.

Also Read: Binance Resumes USD Deposits and Withdrawals After 18 Months