Solana Falls Under $130 Support While Whale Accumulation Strengthens

The Solana price has dropped below $130 for the first time in 2026, as on-chain data suggests a potential recovery for the top-10 altcoin.

Despite the pullback, whales are showing confidence by increasing their holdings. Addresses holding 1,000–10,000 SOL have surged since late November 2025, now controlling around 48 million SOL, roughly 9% of the circulating supply.

Number of whale addresses holding 1K-100K tokens. Source: Glassnode

Larger holders with over 100,000 SOL have also increased their stakes to 362 million tokens, representing 64% of the total supply. Long-term holders (LTHs) have been actively accumulating, with the hodler net position change reaching a 15-month high of 3.85 million SOL, the highest since October 2024, a period that preceded a 95% price rally.

Exchange Supply Drops and On-Chain Activity Surges

Exchange supply of SOL has fallen sharply, dropping by 5 million to just over 26 million tokens, levels not seen since January 2023. This reduction indicates lower sell pressure and an intention by holders to retain their tokens, reinforcing the bullish outlook.

On-chain activity has also strengthened, reflecting growing network adoption. Daily active addresses have jumped 51% over the past week to a six-month high above 5 million, while daily transactions rose 20% to 78 million, indicating increased use of Solana’s decentralized apps and staking services.

Solana’s stablecoin supply has surged over 15% in the last seven days, reaching an all-time high of $15 billion. Analysts highlight that this represents new liquidity entering the network, providing more capital for trading, settlement, and applications. Rising stablecoin supply signals growing on-chain demand, boosting network fees, utility, and adoption.

Solana Price Signals Potential Upside After Holding Critical Support

The Solana price signals a potential bullish reversal after recent weakness, with the price currently testing a critical support level around $126.98. According to technical analysis, SOL has formed a major support zone in the $125–$130 range, which has held multiple times over the past months, indicating strong buying interest at these levels.

The chart also highlights a possible parabolic reversal, indicating that if buyers step in, the price could accelerate upward rapidly toward higher resistance levels. The Relative Strength Index (RSI) on the daily timeframe is at 39.3, signaling that Solana is approaching oversold conditions.

The chart marks potential target prices above $160, $180, and $200, which could be achievable if momentum shifts in favor of buyers. Analysts note that a sustained break above the local consolidation around $140–$145 would strengthen the bullish case and likely trigger a sharp upward move.

SOLUSD Chart Analysis. Source: Tradingview

Traders need to watch the major support zone closely, as a breakdown below $125 could invalidate the bullish scenario and open the door for further declines. However, if the parabolic reversal unfolds as expected, Solana could see a rapid recovery, similar to previous rebound patterns observed since mid-2025.

Momentum indicators, including the RSI and price action, indicate that accumulation at these levels may offer a low-risk entry point for traders seeking medium-term gains. The technical outlook points to a cautiously optimistic scenario, where SOL could potentially regain key resistance levels if buying pressure persists.