Solana Bull Run: Whale Games and Chart Patterns Push SOL Ahead of ETH

Solana has sparked a debate across the crypto community. A renowned trader named Peter Brandt has shared his Solana technical analysis, indicating a bullish signal. In his recent tweet on April 23, 2025, Brandt referred to a “cup and handle” (C&H) formation developed in both ETH & ETH trading pairs. A technical chart pattern that traditionally signals a bullish breakout, according to Brandt SOL, could experience massive gains compared to Ethereum (ETH) and is referred ETH as its “invalid cousin.” 

This C&H is still playing out, by the way.
SOL has lots of room to gain on its invalid cousin, $ETH pic.twitter.com/DdguqcNfIl

— Peter Brandt (@PeterLBrandt) April 22, 2025

Brandt’s chart is based on a weekly timeframe, which has illustrated a large rounded bottom followed by a smaller consolidation dip, a textbook feature of the C&H pattern. The pair is trading at just below a key resistance line at 0.085. If SOL breaks this threshold, Brandt’s target for the SOLETH ratio is 0.110924 and 0.2098094, respectively, indicating a 100% outperformance by SOL against ETH. If this happens, then a significant shift in the dominance landscape will take place, positioning SOL as a credible alternative to ETH for smart contracts and the DeFi ecosystem. 

Technical Indicators Reinforce Solana’s Bullish Setup

Apart from the C&H pattern, the Solana technical analysis of the chart through technical indicators shows further bullish confirmation through rising volume bars and supportive moving averages like the weighted mean average (WMA). Increased trading suggests the growing market interest with both retail and institutional investors betting on SOL’s upside potential. The optimism around SOL is also supported by recent institutional activity. Cathie Wood’s ARK Invest made its first direct investment in SOL on April 21, 2025, adding credibility and resulting in SOL price appreciation. This move reflects a rising interest in SOL compared to ETH. 

Whale Movements Reflect Strategic Shifts, Not Panic

Other than Brandt’s post, there is Solana whale activity happening, reported by blockchain analytics platform Lookonchain about the unstaking of 100,000 SOL. That’s worth about $13.9 million and transferring it to Binance. This investor previously accumulated 991,079 SOL at an average price of $27 and has staked the funds for 4 years. SOL is now trading at the time of writing $151.40, marking a notable SOL price increase of 2.56% in the past 24 hours. The whale’s unrealized profits have exceeded $153 million.

SOL/USD chart, published on Tradingview, April 23, 2025

Despite the sizable transfer, the Solana whale activity has shown that they have continued to hold 1.19 million SOL is currently priced at around $166.37 million. This suggests the move was more of a strategic rebalancing than a sign of bearish sentiment. Meanwhile, a newly created wallet withdrew and staked 44,116 SOL worth over $6 million, which fueled mixed strategies within the whale community. Some are cashing out while others are capitalizing or doubling it. 

SOL Outpaces Market Despite Short-Term Volatility

Solana price continues to demonstrate resilience amid broader market consolidation. As discussed above, the Solana price had a 2.56% appreciation, it is exhibiting strong bullish signals according to the Solana technical analysis based on the indicators. The Relative Strength Index (RSI) stands at 72.82, placing it in the overbought zone, suggesting potential caution ahead. 

However, the moving averages present a solid bullish trend, with the 10-day EMA and SMA both around $148 and the 50-day and 100-day averages. That supports at $141.18 and $136.21, respectively, indicating sustained momentum. Over the past 14 days, Solana’s price has surged nearly 29% while the monthly gain of 5.9% reflects a recent pullback after a euphoric 38% rally earlier in April. The Solana price rally was backed by strong technical foundations, Solana whale activity, the wedge pattern, and the daily chart’s cup-and-handle structure. 

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