Solana whale wallets hit record high – $360 breakout next?

Despite a pause in the cryptocurrency industry’s recent stellar move that has seen Solana (SOL) move back below the $200 price level, the sixth-largest crypto asset by market capitalization might be looking at a breakout to $360 thanks to the soaring whale interest.

Specifically, the number of wallets holding over 10,000 Solana, currently worth around $2 million, has recently hit an all-time high (ATH) of 5,224, according to the observations by professional crypto trader Ali Martinez, which he shared in an X post on August 15.

Solana rally to $360

At the same time, the crypto expert believes the recent pullback might be the “final buy-the-dip chance before targeting $360,” as he demonstrated with a 12-hour chart showing a strong ascending trendline beginning around April 2025 and a horizontal resistance line near $210.

The bullish continuation pattern and Fibonacci levels suggest key price levels for observation include $175.94 (0.618 retracement), $230 as the breakout target zone, and then $250, $280, $310, and finally $360 as extension targets. First, the price might drop to around $190 before it breaks out above $210 and continues to $360.

Indeed, Solana is currently changing hands at the price of $194.96, recording a 5.04% decline in the last 24 hours but also an accumulated increase of 10.64% over the previous seven days, adding up to the 16.63% gain on its monthly chart, according to the latest information retrieved from CoinMarketCap.

All things considered, Solana’s current price could actually be the lowest we’ll see in a long while, and a new all-time high (ATH) of $360 could certainly be in store by the year-end, provided that all the favorable factors align.