Solana Sell-Off Alert: Pump.fun Sends Millions to Kraken Again

Solana Sell-Off Alert: Market Panic or Strategic Exit Plan?

A sizable portion of Solana has once again been dumped onto Kraken by Pump.fun, leaving behind 156,425 SOL, or $25.74 million. This raises the total amount of deposits to 3.49 million SOL, which is over $640 million.

The volume and regularity of these transfers point to a planned escape tactic. Meanwhile, Market Prophit data indicates that sentiment among smart money and the general public is solidly in the bearish range.

Solana Breaks Trendline Support: Is a Drop to $140 Inevitable?

Technically, after failing to hold above the $179 resistance zone, SOL has fallen below its rising trendline. A decline toward the next significant support, which is located between $140 and $145, is made possible by this rejection from the upper supply band.

Furthermore, the oversold zone, which frequently denotes limited upward momentum, is where the stochastic RSI is currently hovering. Thus, in the absence of robust bullish signals, the market can experience additional declines. The structural breakdown and rejection support the current pessimistic picture and pave the way for a potential test of the lower demand zone in the near future.

Spot Market Red Flags: Net Outflows Hint at Whale-Led Selloff

CoinGlass data, which showed $273.26 million in withdrawals vs $241.56 million in inflows on May 30, validated the bearish pressure in spot markets. Concerns that whales and huge holders are lowering exposure rather than increasing it are strengthened by this $31.7 million net outflow.

The way that Pump.fun and other businesses unload tokens onto exchanges is mirrored in these transactions. Thus, if no new positive triggers appear to counteract the ongoing sell-side pressure seen on-chain, the supply-demand mismatch raises the possibility of more drawdowns.

Solana Faces Bearish Pressure as Funding Rate Turns Negative Again

At -0.0015% at the time of writing, the OI-Weighted Funding Rate has once again fallen into negative territory. This change indicates that market participants are hedging against downside risk more and more, as well as a growing demand for short positions.

When funding turns negative following an extended period of bullishness, it indicates a shift in the sentiment of the derivatives markets. Now, traders anticipate more drops, perhaps in the $140 range. Shorts may control price motion unless open interest activity quickly reverses, which would put pressure on SOL to investigate lower levels in the near future.

Bearish Storm Hits Solana: Can Bulls Defend $140?

SOL is at a turning point as severe sell-offs, negative funding, bearish sentiment, and technical breakdowns all come together. Now, whether bulls can mount a defense or if sellers will push prices any lower will be determined by the $140–$145 support zone. A breach below this level would quicken the downward momentum and support the current negative trend if the current circumstances continue.

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