TL;DR

Solana price rebounds from $160, forming higher lows with a $210 target on bullish charts. Whales moved over $40 million in SOL to exchanges, some locking in significant profits. Hong Kong approves Solana for retail trading, joining BTC, ETH, AVAX, and LINK on licensed platforms.

Price Recovery and Technical Setup

Solana (SOL) has climbed back from the $160 support level, touching $185 during the latest trading stretch. According to market watcher BitGuru, the price is tracking an upward trendline and could be on course for a 14% rise toward $210. The bounce follows a series of short pullbacks that failed to break the current uptrend.

$SOL strong recovery from the $160 support zone with price climbing to the current $184.73 level.

The market is maintaining an upward trendline targeting a potential 14% move toward the $210 resistance area. Momentum remains bullish after a successful rebound from pullbacks. pic.twitter.com/q3vAmC5GvK

On the 4-hour SOL/USDT chart, price action continues to form higher lows. This formation, as long as it is held, preserves the bullish trend.

Notably, the $210 projection reflects earlier patterns where consolidation phases eventually gave way to strong rallies. Failure to continue through the trendline would jeopardize the prospects, and a constant purchase would be enough to support the rally.

Market Snapshot

At the time of writing, SOL changes hands at $175, showing a 4% dip over the past day. Trading volume stands at $5.90 billion. Even with the daily loss, the token holds a 3% gain on the week.

Past moves on the chart show rapid runs followed by cooling periods. Current trading resembles the early stage of another push upward. Some traders are watching the $168–$170 zone for potential reactions if the market turns lower.

Whale Transactions and Liquidations

On-chain activity points to notable whale movements. Lookonchain data shows wallet CMJiHu transferred 96,996 SOL, about $17.45 million, to an exchange nine hours ago.

Another wallet, 5PjMxa, moved 91,890 SOL ($15.98 million) to Kraken, while HiN7sS sent 37,658 SOL ($6.73 million) to Binance, reportedly booking $1.63 million in gains.

Analyst CW reported that a large portion of high-leverage long positions in SOL have been cleared. Trader XO says he is watching the $168–$170 area for a response, while holding spot positions from previous lows and scaling short positions separately.

In a separate development, OSL HK, Hong Kong’s first licensed digital asset exchange, has secured approval from the Securities and Futures Commission to allow retail trading of Solana.

Meanwhile, this makes SOL the fifth asset cleared for retail in the region, alongside Bitcoin (BTC), Ethereum (ETH), Avalanche (AVAX), and Chainlink (LINK). The move broadens regulated access to Solana for Hong Kong’s retail market.