Solana whales dump $17.7M – Is SOL’s $183 comeback at risk?

Main Idea
Solana (SOL) experienced a 12% price drop in a week due to whale sell-offs, raising concerns about its ability to reclaim the $183 level, while retail traders continued buying the dip.
Key Points
1. Solana's price dropped 12.38% in a week, falling from $206 to a local low of $159, with whales depositing $17.74 million worth of SOL into exchanges.
2. Whale activity in the spot market slowed, but derivatives trading volume increased by 4.62%, though the Long/Short Ratio indicated bearish sentiment.
3. Retail traders continued buying despite negative Spot Netflow, with SOL's Netflow dropping from -$95.49 million to -$1.86 million.
4. Technical indicators like the Relative Strength Index (41) and Stochastic RSI (0.07) suggest strong downward momentum, potentially pushing SOL toward $154 support.
5. The market remains uncertain whether retail traders will hold or sell, impacting SOL's potential recovery to $183.
Description
Can retail accumulation counterbalance institutional sell pressure in time?
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