Solana (SOL) surged nearly 10% from the $175 support zone to reach $199 following favorable CPI inflation data, breaking through a bearish trend line with resistance at $178. Technical indicators show bullish momentum, with the hourly MACD gaining pace and RSI above 50, suggesting potential upside toward $205-$210 if the $200 resistance is decisively breached. However, significant whale activity threatens this rally: Alameda Research unstaked $35 million in SOL tokens (yielding 100x gains since 2020), while other whales moved over 226,000 SOL ($40+ million) to exchanges, contributing to a 4% pullback.
Hong Kong's Securities and Futures Commission approved Solana for retail trading via licensed exchange OSL HK, placing SOL alongside BTC, ETH, AVAX, and LINK as regulated assets. This expands institutional access amid SOL's technical rebound from $160 support, where analysts identified higher lows and an upward trendline targeting 14% gains to $210. Critical support levels sit at $194, $186, and $170 – a breakdown below $170 could trigger deeper corrections toward $160.