Solana’s $14mln whale move vs retail exit – Which side controls $130?

ambcryptoPublished on 2025-12-11Last updated on 2025-12-11

Abstract

Solana's price dropped to $131, breaching the $130 support level after a failed breakout attempt at $144. Despite the decline, a significant whale withdrew over 101,000 SOL ($13.89M) from Kraken, increasing its holdings to 628,564 SOL, signaling strong confidence. Institutions also showed sustained demand, with Solana ETFs recording net inflows for five consecutive days, bringing total assets near $1 billion. In contrast, retail traders continued selling, as evidenced by negative spot market metrics and higher sell volume. Momentum indicators remained bearish, with the SMI Ergodic Indicator showing a bearish crossover. If selling continues, SOL could fall further toward $123. Regaining bullish momentum would require closing above $146.

Solana attempted an upside move two days ago but was rejected at $144, triggering a retrace and a breach of $130 support.

As of press time, Solana [SOL] traded at $131, down 5.51% on the day. The dip to $129 offered an accumulation window that whales and institutions quickly used.

Solana whale steps in during the pullback

According to Onchain Lens, a long-term Solana whale withdrew 101,365 SOL, worth $13.89 million, from Kraken.

After the latest transactions, the whale’s total Solana holdings jumped to 628,564 SOL, worth approximately $84.13 million.

Out of these holdings, 519,217 SOL is in the private wallet, and 109,348 SOL is staked for yield.

Such a move by the whale to expand positions during a market downturn signals strong confidence in the market. This suggests that the whale anticipates a market recovery, a clear bullish signal.

Institutions kept buying Solana ETFs

In addition to Solana whale accumulation, institutions have been on a buying spree this December. SoSoValue data showed Solana Spot ETFs posted Net Inflows for five straight days.

Since these ETFs went live in late October, they have recorded Net Outflows only three times, reflecting strong demand.

As a result, NET Total Assets climbed to $949.1 million, placing the group near the $1 billion milestone. Sustained inflows suggested institutions remained committed even as price action weakened.

Retail kept selling into weakness

Surprisingly, while Solana whales and institutions showed sustained demand, retail traders continued to close positions.

In fact, Spot Taker CVD turned positive for the first time in nearly two weeks. When this metric is red, it indicates Seller Dominance, meaning more selling orders than buying in the spot market.

Coinalyze data backed the trend. Solana printed 1.31 million Sell Volume against 1.15 million Buy Volume on the 11th of December, leaving a Buy Sell Delta of –158.77k.

Heavy retail selling added downward pressure when whales and institutions were absorbing supply.

Momentum indicators stayed bearish

AMBCrypto’s analysis showed that accumulation from large holders had not offset growing retail sell pressure.

The SMI Ergodic Indicator formed a bearish crossover, sliding to –0.103, which aligned with weakening momentum.

At the same time, the EMA & MA crossover tightened bearish conditions. The MA fell to $135, while the EMA ticked higher to $136, showing ongoing short-term selling pressure.

Together, these signals pointed to sustained weakness. If selling persisted, SOL might revisit levels below $130, with $123 serving as the next notable support.

For buyers to reclaim control, SOL needed a flip of the EMA at $136 and a close above $146, a level tied to its last failed breakout attempt.

Final Thoughts

  • Whales and institutions absorbed supply at lower levels, yet Solana’s momentum indicators still leaned bearish.
  • Traders might watch the $130 zone closely as sentiment decides its next direction.

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