After briefly sliding toward $180, SOL quickly reversed course, signaling that smart money may be stepping back in to accumulate.

At around $197, Solana has managed to hold its structure even as broader market sentiment remains shaky. Analysts note that this zone has acted as a springboard multiple times throughout 2025, reinforcing its role as a key level for buyers.

The next major test sits near $237, where previous rallies have consistently stalled – a breakout above it could mark the beginning of Solana’s next bullish wave.

Data from CoinGlass paints a striking picture of whale activity. Roughly $169 million worth of SOL has flowed out of exchanges in recent days, a move often associated with long-term accumulation. When investors pull tokens into cold storage, it generally signals confidence that prices will rise rather than fall.

Historically, similar behavior has preceded notable upswings in Solana’s price, particularly during early-year rallies.

Traders are also watching the technical backdrop closely. Momentum indicators suggest that selling pressure is easing, and several analysts point to a large “cup and handle” formation on higher timeframes – a pattern that, if confirmed, could support a multi-month rally well beyond the $285 zone.

The broader narrative around Solana has shifted from short-term fear to quiet optimism. The combination of heavy accumulation, shrinking exchange supply, and stable technical support suggests that the asset may be building the foundation for a larger breakout.

For now, maintaining strength above $180 keeps the bullish scenario alive – and a decisive move beyond $237 could light the fuse for Solana’s next major advance.