Solana appears to be down but not out, as whale accumulation underscores continued confidence in bullish Solana price predictions.
Despite the US-China trade war–driven liquidation event that wiped out bullish setups for most altcoins, SOL has reaffirmed historical support at $173.
Whales seem to be treating the 24% weekly decline as a discount, with a sharp spike in the Chaikin Money Flow (CMF) indicating heavy accumulation likely led by large holders.
SOL Chaikin Money Flow. Source: TradingView.
CoinGlass data adds weight to the trend, showing nearly $27 million in Solana exchange outflows, suggesting whales are moving holdings to self-custody in anticipation of a recovery.
Solana Price Prediction: Whales are Positioned for a $1,000 Surge?
The bounce at $173 has validated the lower boundary of a six-month rising wedge, with the pattern now approaching its apex and momentum building fast.
This support zone has once again acted as a launchpad, shifting attention back toward a potential breakout.
SOL / USD 1-day chart, ascending wedge pattern. Source: TradingView.
On the 1-day SOL/USD chart, the Relative Strength Index (RSI) has reversed sharply from a near-oversold reading of 33, while the MACD histogram signals seller exhaustion, suggesting bulls are regaining control.
The key breakout level sits at $300, marking Solana’s all-time high from earlier this year.
If SOL flips that level into support, it could enter price discovery mode, opening the door to a rally toward $500, a 160% upside from current levels.
In the short term, the $190 demand zone will be crucial. A confirmed bounce from here could set a higher base for a sustained uptrend.
Looking ahead, macro factors like interest rate cuts, corporate treasury buying, and potential spot ETF approvals could push SOL toward the $1,000 mark, a 415% surge as the bull market gains steam.
SNORTER: The Tool to Make the Most of the Marker Rebounds
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