Recent movements from large holders have significantly impacted the prices of Solana (SOL) and Avalanche (AVAX), sparking concerns about future price stability. Solana’s value recently climbed above $145, driven by substantial activity from major players in the crypto market. However, large transfers from whale wallets could indicate pressure to sell, while Avalanche is grappling with a critical support level after facing recent declines.
Will Solana Maintain Its Momentum Above $145?
Solana has faced notable price volatility, rebounding from around $133 to surpass the key psychological level of $145. Despite this rise, sustaining momentum above $150 has proved challenging.
The influence of whale activity is evident, as large stakeholders recently withdrew approximately $7.5 million in SOL from Binance, fueling the price surge. Nonetheless, a concerning trend emerged with five whale addresses removing a collective 5.52 million SOL, equating to about $810 million, from staking, stoking fears of a potential dip.
Can Avalanche Sustain Its $20 Support?
Avalanche’s price has fallen to the $20 support level, losing gains it had achieved since November 2024. After peaking at $35 earlier this year, AVAX is currently entrenched in a downward trend.
Despite these challenges, technical indicators suggest a possible short-term recovery. The MACD is signaling an upward trend, but breaking the 20-day moving average at $24.24 is essential for a more robust recovery. Resistance at $26.54 presents another obstacle to overcome.
- Whales have heavily influenced SOL’s price movements, indicating potential selling pressure.
- Solana is in a consolidation phase, with a critical range between $138 and $145.
- Avalanche is struggling at the $20 support level, with indicators hinting at a possible rebound.
- Key resistance levels for AVAX are at $24.24 and $26.54, crucial for reversing its current trend.
The unfolding dynamics in both Solana and Avalanche will likely continue to attract attention as market participants seek to navigate these turbulent waters. Future price movements will depend significantly on the activity of large holders and broader crypto market trends.
