Solana Price Prediction: SOL Struggles Under Selling Pressure, Can Bulls Hold the $128 Support?

SOL Solana price may be heading into a cooling phase after a strong run. A major whale just unstaked and sold over $6.8 million worth of SOL, locking in profits after weeks of upward momentum. While the move isn’t triggering panic yet, it’s enough to raise eyebrows across the market.

After weeks of steady accumulation and staking, we’re starting to see early signs of profit-taking from major SOL holders. Lookonchain flagged a whale wallet that just unstaked and sold 44,539 SOL for $6.8 million, locking in a tidy $649K profit. This same wallet had staked 44,116 SOL a month ago at $139 and sold it below the $153 mark.

Solana sees early signs of whale profit-taking, as a major wallet unstakes and sells $6.8M. Source: Lookonchain via X

The timing suggests this wasn’t panic selling, but rather a calculated exit after a strong run. Still, when larger wallets begin to unwind positions, it’s worth paying attention. While this isn’t a rush for the exits, it does hint that some whales may be rotating out or at least taking positions off the table.

Building on earlier whale movements, fresh data shared by Flowslikeosmo from Artemis now shows Solana is showing signs of weakness. In the past 24 hours, SOL recorded the largest net outflows across all chains, while Ethereum dominated on the inflow side. While Solana has been a strong performer recently, this kind of outflow hints at a shift in near-term sentiment.

SOL records the largest 24-hour outflows among all chains. Source: Flowslikeosmo via X

It’s not full-blown bearishness, but it does suggest some capital is starting to rotate out. Pair this with recent whale unstaking and profit-taking, and a narrative begins to form: a short-term breather might be underway.

Zen’s latest chart shows SOL Solana price just hit a key dip target, but now, it’s entering uncertain territory. The drop into the $148 zone completed a previously outlined move, but from here, the next leg is far less clear and could see $128 next. As Zen notes, there’s no strong directional bias until we either reclaim $160 or break further down toward the $124 to $128 demand zone. This area now acts as a potential support block, but also a danger zone if it doesn’t hold.

Solana hits a key dip target near $148, but with weak momentum and no bullish follow-through, sellers remain in control unless $160 is reclaimed. Source: Zen via X

SOL Solana price has broken below a key short-term structure and failed to find bullish follow-through after retesting prior highs. The current candle formation is weak. The momentum suggests that bears are having the upper hand unless price reclaims the $160 mark.

Adding another layer to the evolving SOL picture, trader Jordan Belfort highlights a clean 12-hour RSI bullish divergence forming as price grinds lower inside a descending channel. While price action continues to trend down, RSI is quietly building higher lows.

Solana shows a 12H RSI bullish divergence. Source: Jordan Belfort via X

This kind of divergence doesn’t guarantee a reversal, but it often signals momentum loss in the downtrend, giving bulls something to potentially work with. That said, any bounce from here still needs confirmation. The $160 level remains a major battleground. A reclaim and hold above that zone would confirm this divergence. Until then, SOL Solana price remains trapped below key resistance, and any rallies could get sold off.

Solana is showing a modest bounce off the $142 lows, now hovering around $152 as markets are headed into the weekend. Bullrun_Gravano flagged the move as a potential short-term recovery attempt, with price eyeing the $160 level once again. It’s a glimmer of hope for bulls after a rough patch.

Solana bulls aim for a weekend recovery, pushing price toward the key $160 resistance: Source: Bullrun_Gravano via X

Momentum still feels heavy, and recent outflows plus whale unstaking paint a cautious picture. Unless SOL Solana price can break and hold above $160 with conviction, this bounce may end up being just a lower high in a continuing downtrend. For now, it looks like the market is testing the waters, not signaling a full reversal.