- Solana’s price faces volatility, trading at $143.21 with support at $135 and resistance at $160, $180, and $200.
- Whale movements and $250M USDC minting on Solana impact liquidity and potential price trends.
- SOL’s total addresses hit 2.07B, showing growing adoption despite market fluctuations.
Solana (SOL) continues to see notable market activity, with price fluctuations and increasing network adoption. At press time, SOL was trading at $143.21, a 4.02% decline in the past 24 hours.
Recent on-chain data shows significant whale movements, substantial USDC minting, and a rise in active addresses. Technical indicators suggest a possible trend shift, while support and resistance levels remain important in determining the next price movement.
GrokCoin Trading Activity on Solana
Memecoins on Solana have seen increasing activity, with GrokCoin standing out. The top GrokCoin address, 9hD5w…jn49o, spent 18 SOL ($2,560) to acquire 17.69 million GrokCoin at $0.0001447 per token.
风水轮流转，Solana 上也难得看到市值破 1 千万的 Memecoin 了😶🌫️
— Ai 姨 (@ai_9684xtpa) March 7, 2025
$GrokCoin 榜一地址 9hD5w…jn49o 花费 18 $SOL （2560 美元）以低价 $0.0001447 买入 1769 万枚 GrokCoin；并在过去 6 分钟内卖出 1.8 万美元代币回本，剩余 92.6% 的持仓仍浮盈 18.5 万美金，回报率 7946%💰
钱包地址… https://t.co/cNWJdDdXwp pic.twitter.com/94Eogh22b2
Within minutes, the holder sold $18,000 worth of tokens, recovering the initial cost while retaining 92.6% of the position. The remaining holdings have a floating profit of $185,000, yielding a return rate of 7,946%.
Whale Activity and USDC Minting on Solana
Whale movements have influenced Solana’s market movements. According to Whale Alert, 1,144,856 SOL, valued at $170.62 million, was transferred between unknown wallets.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 1,144,856 #SOL (170,620,312 USD) transferred from unknown wallet to unknown wallethttps://t.co/aL4bNKbzlG
— Whale Alert (@whale_alert) March 6, 2025
Additionally, a whale unstaked 63,208 SOL ($9.33 million) after three months of dormancy. Another whale withdrew 21,259 SOL ($3.07 million) from Kraken and transferred it for staking, bringing their total staked holdings to 297,729.51 SOL ($43.33 million).
Onchain Lens data reveals that Circle has minted another $250 million USDC on Solana. This addition increases the total USDC minted on Solana in 2025 to $9.25 billion. This could impact liquidity and trading activity on the network.
Solana Market Trends and Price Movements
Solana’s price has been in a prolonged downtrend, declining from a peak above $280 to its current level. The daily trading range shows a high of $146.213 and a low of $135.058, indicating persistent volatility. Trading volume is at 289.87K, showing moderate market activity.
Technical indicators show mixed signals. The RSI is at 40.01, below the neutral 50 level but above the oversold 30 level. Its moving average is at 35.26, suggesting weakening bearish momentum. A rebound above 50 could indicate a trend shift, while a drop below 30 may suggest stronger selling pressure.
The MACD line is at -13.634, with the signal line at -14.426. The small positive histogram bar at 0.792 suggests early momentum recovery. A MACD crossover above the signal line could confirm bullish divergence.
Support and Resistance Levels
Key resistance levels are at $160, $180, and $200. A break above these levels could lead to an upward momentum. Immediate support is at $135, followed by the psychological level of $120. If SOL fails to hold above $135, a dip toward $120 is possible.
According to analyst Ali, Solana’s total addresses have reached an all time high of 2.07 billion. He shared this on X showing SOL’s growth, with increasing network adoption alongside price movements. While adoption strengthens, market volatility persists. If adoption continues, SOL could find support and potentially push higher.
