- Whale deposits of $ 22.9 million have influenced Sol’s liquidity, which indicates potential price fluctuations.
- Social statistics fall, but long liquidations suggest Bullish Press the Sol price.
Whale activity remained influence Solana’s [SOL] Market dynamics, as a large deposit of 132,573 Sol, worth $ 22.9 million, was recently made to crack.
The sender? Pumpfun – already responsible for more than 2 million SOL worth almost $ 340 million in transfers this year.
At the time of the press, Sol traded at $ 173.80, an increase of 0.60% in 24 hours. Of course, such large transfers hinted at potential volatility.
However, the wider market sentiment and the most important technical indicators also play a crucial role in shaping the price of the coin.
Sol shift sentiment: decreasing social dominance and emerging bullish financing percentages
Interestingly, social dominance for Solana has seen a significant decrease and fell to 3.56% on 11 May, from the peak of 18.93% in January 2025.
In addition, the social volume has decreased because it was at 122, a grim decrease in the highlights earlier this year.
At the end of January the social volume rose to more than 5,400, which indicates a period of increased market activity and attention.
Source: Santiment
The OI-weighted financing percentage for SOL recently turned positively, up to +0.0130%, suggesting that traders were somewhat bullish with increasing long positions.
In earlier trends, these changes in the financing percentage have often merged with upward price movements, although caution is needed.
Price squeeze potential: liquidation heat folder and long versus short trends
The liquidation heat folder for Solana (SOL) indicated considerable risks around key prices. In particular, almost $ 175, the heat folder shows concentrated long liquidation levels.
This suggested that every up momentum could activate a price rinse, clean up long positions and push the prices higher.
Conversely, if the price of SOL cannot break through the most important resistance levels, there can be an increased sales pressure.
Source: Coinglass
Liquidation data Show unbalanced market for market
The total liquidation data for Solana show a considerable imbalance in market sentiment.
At the time of writing, short liquidations reached $ 1.8 million, while long liquidations amounted to a total of $ 3.33 million – a clear imbalance.
This suggests that the market is currently more vulnerable for upward price pressure due to the higher number of long liquidations.
As the price of SOL fluctuates, these liquidations can contribute to competitive price movements, with long liquidations that may lead to a pinch.
Fibonacci -levels and RSI suggest critical price promotion
The recent price movement of Solana (SOL) is the testing of important Fibonacci levels, in particular the 1,618 extension to $ 163.53 and the 2,618 extension at $ 177.20.
These important technical levels indicate where Solana can be confronted with resistance or support.
Moreover, the relative strength index (RSI) was 74.21, which suggests that Sol could be in overbough area. Overbought conditions usually indicate that it can actively get a correction if buying pressure decreases.
That is why SOL’s ability to break through these levels will strongly depend on how the market reacts to these critical technical signals.
Source: TradingView
Will Sol continue his upward trend or be confronted with a correction?
In short, bullish signals from whales and financing percentages collide with decreasing retail interest and an overbough RSI.
What happens in the vicinity of $ 175- $ 177.20 could define Sol’s short-term Lot.