Whales Load Up on Solana as $170 Level Sets Stage for $205

3 mins mins

Key Insights

Solana’s $170 support holds strong, signaling potential breakout toward $195 and $205 price targets soon.
Whale wallets move over $40M in SOL to exchanges as trading volume nears $6B daily.
Hong Kong approves retail trading for Solana, joining BTC, ETH, AVAX, and LINK on licensed platform.

coincu A giant Solana coin balancing on a sturdy 170 brick wall b44c6e0f d749 42f2 9e59 5c7673bffdf0 — *Whales Load Up on Solana as $170 Level Sets Stage for $205*

Solana (SOL) has rebounded from $160 to trade near $176, maintaining an ascending triangle pattern on the 4-hour chart. The $170 area, described by analysts as a “liquidity fortress,” has acted as strong support where buyers repeatedly stepped in.

Wise Crypto noted that a retest of this level could “expect a monster breakout,” with the chart pointing to short-term targets of $195.21 and $205.73. The current formation of higher lows against a horizontal resistance level suggests building bullish momentum. A sustained break above the triangle’s upper trendline could push price toward the $205+ mark.

🔥 $SOL is cooking something BIG!

📊 On the 4H chart, an ascending triangle has formed beautifully – a classic bullish setup.

💎 $170 isn’t just support, it’s a liquidity fortress where buyers keep stepping in strong.

📌 What’s next?
If we get that perfect retest of $170,… pic.twitter.com/CeVG0pQbvl
— Wise Crypto (@WiseCrypto_) August 12, 2025

Recovery from Lows and Potential Target

Market watcher BitGuru stated that the recent bounce from $160 has preserved the upward trendline. He projects a possible 14% move toward $210 if the higher lows pattern continues. Past chart behavior shows that similar consolidation periods have preceded strong rallies.

However, a drop below $170 could weaken the bullish setup. Trader XO added he is monitoring the $168–$170 range for a market reaction, while holding spot positions from previous lows and managing separate short trades.

On-chain data from Lookonchain shows large transactions to exchanges in recent hours. Wallet CMJiHu transferred 96,996 SOL, valued at approximately $17.45 million. Another wallet, 5PjMxa, sent 91,890 SOL worth about $15.98 million to Kraken, and HiN7sS moved 37,658 SOL, around $6.73 million, to Binance, reportedly locking in $1.63 million in gains.

Whales seem to be selling $SOL.

CMJiHu deposited 96,996 $SOL($17.45M) to exchanges 9 hours ago.

5PjMxa deposited 91,890 $SOL($15.98M) to #Kraken 3 hours ago.

HiN7sS deposited 37,658 $SOL($6.73M) to #Binance 8 hours ago for a profit of $1.63M.https://t.co/SjYyx112xa… pic.twitter.com/6A22shhpe8
— Lookonchain (@lookonchain) August 12, 2025

Analyst CW reported that many high-leverage long positions have been liquidated during recent market moves. Despite this, the overall trading volume remains strong, with $5.99 billion traded in the past 24 hours.

Regulatory Development in Hong Kong

OSL HK, Hong Kong’s first licensed digital asset exchange, has received approval from the Securities and Futures Commission to allow retail trading of Solana. This positions SOL alongside Bitcoin (BTC), Ethereum (ETH), Avalanche (AVAX), and Chainlink (LINK) as the fifth approved asset for retail access in the region.

The development expands regulated market participation for Solana, adding to institutional and retail accessibility in Asia. At the time of writing, SOL is priced at $179.65, showing a 0.66% gain over the last day and a 9.41% increase over the past week. Traders remain focused on whether the $170 level will hold as the base for a potential breakout toward $205 and beyond.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.