Technical analysis indicates that Solana is currently in a bullish trend, having previously encountered resistance around the $200 mark and now trading between $125 and $180.

The price action has formed a 'bullish flag pattern,' suggesting a potential upward movement as it aims to break above the $190 resistance level.

Despite a significant sell-off by a whale, market sentiment around Solana (SOL) remains cautious, with modest trading volume indicating minimal disruption.

The whale sold 26,726 SOL for approximately $3.86 million, capitalizing on market momentum, while still holding 38,043 SOL in a staking account, valued over $6.6 million.

Whale activity in Solana has increased, particularly in staking wallets, reflecting strong market confidence despite the recent sell-off.

In the past week, SOL's price rebounded to $183 after a brief drop to $170, reinforcing bullish sentiment among traders.

Fibonacci analysis suggests potential price targets for SOL at $383.39 and $829.17, indicating significant profit opportunities if these levels are reached.

In October, over $600 million were bridged into Solana, highlighting its growing interoperability and market strength.

Analysts note that many traders are shifting to holding strategies in response to recent price increases, while the Relative Strength Index (RSI) indicates neutral momentum.

Robinhood's expansion of Solana offerings to European markets has attracted new users, showcasing Solana's growing global reach.

While a minor pullback could test the $147 level, overall sentiment remains positive for Solana's future trajectory, with analysts optimistic about a breakout above $200.

Despite recent volatility, SOL has shown a 12% gain over the past month, suggesting potential for further price increases as whale interest continues.