Solana hovers above key support near $140, with whale activity rising and technical signals flashing red as the price braces for a decisive breakout or breakdown.

With volatility tightening and Solana trading just above a key support zone, the pressure is building. Price action is getting squeezed between major levels, while whales are making bold bets and technicals are flashing warning signs.

Solana Hits Make-or-Break Support Zone

Solana is back at a critical level, and the next move could define its short-term trend. According to Coinvo, SOL is currently testing a key support area around $141 to $144, which has acted as a strong base multiple times since early April. The market’s leaning in; this is the same zone that sparked the last rally toward $160, so participants are watching closely to see if the bulls can defend it once again.

Solana tests a key support zone near $141, a level that previously sparked a rally toward $160. Source: Coinvo via X

If this support holds, price could see another leg higher, possibly pushing SOL back toward the $160 to $165 resistance zone that’s been a stubborn ceiling. But if it breaks, Coinvo believes that downside could open up fast, exposing the SOL Solana price towards the support zones of $120 and $100.

Whale Wallet Stakes $135M

While Solana hovers around its make-or-break support zone near $141, a massive new wallet just made a bold move, staking over $135 million worth of SOL on June 11, after withdrawing from Coinbase.

A new whale wallet stakes 850,000 SOL worth $135M. Source: SolanaFloor via X

The image shared by SolanaFloor shows SOL trading near $159; this action signals deep conviction from a player willing to lock in 850,000 SOL while the broader market watches from the sidelines. It’s a vote of confidence amid technical uncertainty.

Solana Eyes Bounce From Key Demand Zone

As Solana reaches the support levels around $140, a new chart analysis suggests that this level may act as a lifeline. A tweet from Cypher shows SOL bouncing off a clearly defined demand zone, one that has held firm several times since late April.

Solana attempts a bounce from a key demand zone near $140, with traders eyeing a possible move toward $150 to $155. Source: Cypher via X

With a descending trendline pressing from above and horizontal support just underfoot, SOL now sits at the center of a technical squeeze; a bounce here could retest the mid-$150s. At the same time, a failure could break open downside toward $130 or lower.

The $135M staking move signals confidence, but the price still needs to confirm with the structure. Until SOL clears the downtrend or decisively breaks below, traders are watching for signs of strength at this support zone.

Solana Meme Volume Hits 16-Month Low

As Solana fights to defend its support near $140, fresh on-chain data shows another shift: whale memecoin activity on SOL has completely dried up. A tweet by Greeny highlights that whale transaction volume tied to meme tokens is now at its lowest since February 2024.

Whale memecoin activity on Solana plunges to a 16-month low as SOL tests critical support near $140. Source: Greeny via X

The chart reflects a sharp collapse in whale activity, with retail users still engaged, but the big players clearly stepping back, a rare disconnection from earlier cycles. This comes right as SOL attempts a technical bounce. Either way, with volatility compressing, all eyes are now locked on SOL Solana price structure and whether the $140 level holds or breaks.

Solana Price Prediction Eyes Head & Shoulder Breakdown

Solana’s chart is shaping up into a classic head and shoulders pattern, and it’s raising red flags. As noted by Chill Trader, the neckline support around $140 is now under serious pressure. This level has been key since April, but if it fails, the pattern’s measured move points to possible drops toward $123 and even $96.

Solana forms a classic head and shoulders pattern with neckline support under threat at $140. Source: Chill Trader via X

Volume is starting to tick up on red candles, hinting that sellers are gaining confidence. The structure is already in place, left shoulder, head, right shoulder, now it’s all about whether the neckline breaks. Until then, bulls still have a shot at recovery, but if $140 gives way, the next wave down could come quickly.

Final Thoughts

Solana is standing right on the edge, and the direction could define whether bulls regain control or sellers press the advantage. With the price sitting at a critical support near $140 and patterns like the head and shoulders beginning to unfold, the participants are watching closely.

Whale memecoin volume drying up, rising sell pressure, and conflicting signals make this a pivotal moment for SOL. A clean bounce from here could flip the short-term narrative bullish again, but if the neckline cracks, SOL Solana price could be looking at sharp downside toward $123 or even $100.