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Mysterious Whale Alert: Over 800,000 SOL Transferred to Coinbase – Price Impact Unclear

Published 04/02/2024, 12:20 PM
Updated 04/02/2024, 12:45 PM
Mysterious Whale Alert: Over 800,000 SOL Transferred to Coinbase – Price Impact Unclear

  • In four different batches, a whale sent thousands of SOL to Coinbase (NASDAQ:COIN).

  • The price might drop to $171.36 if momentum remains bearish.

  • A decline in Open Interest could make SOL weak, reinforcing the bearish prediction.

Monday, April 1, was filled with surprising events in the market. But one that caught Coin Edition’s attention the most was some activities related to Solana (SOL). According to Whale Alert, four different transactions involved millions of SOLs being sent to Coinbase.

The transactions that happened at about the same time, were over 800,000 SOL. Typically, when transfers like this occur, the intention is to sell. However, an assessment of the market showed that SOL has not felt any impact from selling pressure.

It’s Time to Evade an Upswing

At press time, the token changed hands at $197.15 as it kept swinging sideways. From the 4-hour chart, bears …

The post Mysterious Whale Alert: Over 800,000 SOL Transferred to Coinbase – Price Impact Unclear appeared first on Coin Edition.

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