Solana Price Reaches 6-Month High Despite $432M Selling

Solana has hit its highest level in six months, showing renewed demand in the wider crypto market. At the same time, over $432 million in SOL has moved to exchanges, showing selling pressure.

Investor activity points to growing confidence, though it also reveals a divide between long-term holders and profit-takers. With Solana near $208 after peaking at $216, analysts are seeing if the rally can continue or if a drop could come.

Profit-Taking Drives Exchange Inflows

Solana’s exchange balances have risen sharply over the past three days. More than 2 million SOL, worth over $432 million, have been moved to exchanges. This shows some investors are taking profits from the recent rally. Large inflows like this often point to short-term caution.

Even though prices remain strong, these deposits put pressure on Solana to hold its highs. Moving many tokens to exchanges reduces liquidity and could lead to quick price drops if selling increases. The Coin Days Destroyed metric also rose, showing that long-term holders are starting to sell. In the past, this has often marked resistance to further gains.

In short, while retail and short-term traders are pushing Solana higher, large holders are acting cautiously, which could slow the rally.

Whale Activity and Price Retracement

SOL has pulled back to around $208 after reaching a six-month high, with a 2% daily drop and 3.8% lower trading volume. On-chain data shows big moves by major holders: Galaxy Digital unstaked 250K SOL and sent 224K SOL to Binance and Coinbase on August 26. Three other whales also moved more than 226K SOL to exchanges last week, according to Lookonchain.

This reflects profit-taking after SOL’s 38% rally in the past 60 days. Traders targeting the $216 peak triggered stop-losses, adding to the pullback. Now, the market is watching if Solana can reclaim the $210 range.

Large holders’ activity shows that even strong rallies can face resistance. Exchange inflows often come before broader sell-offs, so caution isstill advised despite SOL’s recent strength.

Key Levels To Watch Now

Solana is currently at an important point. If it can reclaim the $210–$211 range and push past $221, holding that level as support, the rally could gain momentum, helping SOL maintain recent gains even amid selling pressure.

On the other hand, if support near $201 fails, a deeper correction toward $189 or possibly $175 could occur, undoing much of the short-term progress.

Analysts note that seasonal trends and the general state of the crypto market often influence these movements. Altcoins like SOL usually gain when Bitcoin performs well, yet Bitcoin has shown little strength in recent days. The coming days may reveal whether profit-taking or renewed buying pressure will prevail.

What Does It Mean for Investors?

Solana’s rise to a six-month high shows renewed interest, but heavy selling by long-term holders shows caution. How short-term traders take profits and larger investors manage risk will play a key role in SOL’s next direction.

Investors should pay attention to critical levels for signs of lasting momentum, while remaining aware that a pullback remains possible. On-chain data and whale activity can offer additional clues on whether the rally will continue or if selling pressure may rise.