A significant player in the Solana ecosystem has made waves by unstaking over 125,000 SOL tokens, valued at approximately $17.64 million, after a four-year stint. This whale wasted no time, transferring a chunk of that wealth—25,000 SOL—directly to Binance.

The market has been somewhat rocky for Solana (SOL) lately, struggling within a descending channel. After reaching a peak of $187, the altcoin has faced a decline, recently hitting lows around $141. This stagnation has left many long-term holders anxious, especially those who previously staked their assets.

Notably, despite the recent sell-off, this whale still retains a hefty 1.17 million SOL, nearly $174 million, locked away in staking contracts. Such moves often reflect a growing dissatisfaction among large investors, raising concerns that confidence in SOL's future might be waning.

Amidst these developments, data from Coinglass has revealed a shift in exchange dynamics, with SOL's netflows finally turning positive for the first time in 16 days. This suggests that more coins are entering exchanges than leaving, a typical precursor to increased selling pressure. However, Solana's price has surprisingly remained stable.

In an unexpected twist, SOL has recently seen a recovery, closing positively for two consecutive days. Trading around $152—up 3.16% in the last 24 hours—the situation appears somewhat optimistic despite earlier bearish signals.

Small-scale investors seem to be seizing this moment as buyers accumulated 479,000 SOL in the spot market, showcasing a demand that outstrips supply. The technical indicators are also hinting at a potential comeback for SOL. The Stoch RSI has shown a bullish crossover, suggesting that momentum may be shifting in a more favorable direction.

Given these complexities, it appears that if SOL can build on this momentum, it might be poised to reclaim the critical $165 level. However, should more whales decide to offload their stakes, we could see the price fall back to its vital $140 support.