Solana Whale Goes All In With $26M Long Amid Market Downturn

Solana whale opens $26M long as price drops to $175 while ETFs see $44.4M inflows amid ongoing market downturn.

Solana’s price faced a 6% drop during a broader market crash, trading near $175. Despite this, a major whale opened a $26 million long position, suggesting continued confidence in the asset’s long-term potential. While technical indicators point to short-term weakness, large capital inflows and strategic positioning are drawing attention from traders.

Whale Opens $26M Long Position During Price Drop

According to Lookonchain, a Solana whale placed a 20x leveraged $26 million long position as the asset declined sharply. This move came at a time when many investors were reducing risk exposure due to broader market uncertainty.

Whale 0x8d0E deposited 10M $USDC into #Hyperliquid and opened a 20x long on 140,366 $SOL($26.14M) ~2 hours ago.https://t.co/5mFQbqK01Z pic.twitter.com/rungtHzR7O

— Lookonchain (@lookonchain) November 3, 2025

The timing and size of the trade point to a strong belief in a price rebound. Such positions increase exposure but also risk, which suggests the whale has high confidence in a near-term recovery. This trade was executed on Hyperliquid, a platform known for supporting large-scale leveraged positions.

The position aligns with broader on-chain data showing increased whale activity. This suggests that large investors are taking advantage of current price levels rather than exiting their positions.

Technical Pattern and Support Levels Shape Price Outlook

Solana’s current structure on the daily chart reflects a head-and-shoulders pattern. The neckline support sits near $172, which is a key area for bulls and bears. A confirmed breakdown below this level could push the price toward $156.

The next support zone lies around $130.50, based on past accumulation in August. Holding above $172 could help buyers regain control and set the stage for a possible bounce toward $209. In this scenario, short liquidations could add fuel to the upward move.

Technical indicators are showing short-term weakness. The MACD has recorded a bearish crossover, suggesting that momentum currently favors sellers. However, similar setups in past cycles have often preceded trend reversals when volume decreased and buying resumed.

Institutional Inflows Reflect Ongoing Interest in Solana

While retail sentiment remains cautious, institutional interest in Solana appears to be growing. Over the last four days, Solana spot ETFs recorded $44.4 million in inflows. This pushed the total assets held across Solana ETFs to over $500 million.

These flows came during a market-wide decline, showing that large-scale buyers remain active. The timing also coincides with the whale long position, suggesting some alignment between individual and institutional behavior.

Together, whale activity and ETF inflows point to a steady demand base forming. As long as Solana holds above key levels like $172, traders may continue positioning for recovery once market conditions stabilize.