- Solana shows strong support around $180 as whales withdraw $169 million from exchanges, signaling an accumulation phase.
- Retail and institutional investors are positioning ahead of the October 16 ETF decision, potentially setting the stage for a price rally.
Solana (SOL) has found firm footing near $180 as whales withdraw millions from exchanges, signaling a potential accumulation phase. With the market eyeing the October 16 spot ETF decision, both retail and institutional investors are positioning for a possible price surge.
Whale Activity Suggests Accumulation
Large Solana holders recently moved $169 million off exchanges, transferring tokens to cold storage rather than leaving them available for sale. Historically, such withdrawals indicate accumulation, often preceding upward price movement. Exchange reserves across major platforms have declined, reducing potential selling pressure and creating a more favorable environment for price growth.
Retail Traders Go Net Long
On-chain analytics show 76% of retail traders hold net long positions on SOL, one of the highest readings among major cryptocurrencies. Historical data reveals that when retail positioning surpasses 75%, seven-day forward returns average over 5%, with lower drawdowns. This suggests that retail bullish sentiment may support a near-term rally.
Among the majors, $SOL has the highest percentile when it comes to true retail long% (TRA).
76% of retail accounts in a position on SOL are in a net long.
Historically, what does this mean?
We create a signal that looks at every occurrence where TRA >= 75.Forward returns… pic.twitter.com/qkEpbmc6xn
— Hyblock (@hyblockcapital) October 13, 2025
Institutional Investors Buy the Dip
Corporate buyers are also adding to Solana holdings. Treasury company Solmate acquired $50 million in SOL at a 15% discount from the Solana Foundation, while SOL Strategies added over 88,000 tokens at an average price of $193.93. These strategic purchases highlight institutional confidence in SOL at current levels.
Among the majors, $SOL has the highest percentile when it comes to true retail long% (TRA).
76% of retail accounts in a position on SOL are in a net long.
Historically, what does this mean?
We create a signal that looks at every occurrence where TRA >= 75.Forward returns… pic.twitter.com/qkEpbmc6xn
— Hyblock (@hyblockcapital) October 13, 2025
Technical Indicators Signal Recovery
Solana’s Stochastic RSI has rebounded from oversold territory, suggesting buyers are regaining control after recent corrections. Price action is consolidating between the 50-day and 100-day exponential moving averages, often a precursor to decisive moves. Key support remains at $180, while the next resistance level sits at $237, a zone that could open the door for further gains if broken.
ETF Decision Could Catalyze Demand
Traders are closely monitoring the October 16 spot Solana ETF decision. Approval may tighten supply and attract institutional investment, potentially driving prices higher. Previous spikes in whale activity often preceded rallies between 40% and 70% in the following weeks, hinting at strong upside potential.
With solid support levels, growing whale activity, and bullish retail sentiment, Solana appears poised for a possible recovery. Investors will be watching closely as the ETF decision approaches, potentially marking the start of a significant accumulation phase.
DISCLAIMER:
The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of the publisher. The publisher does not endorse or guarantee the accuracy of any information presented in this article. Readers are encouraged to conduct further research and consult additional sources before making any decisions based on the content provided.