Coldware (COLD) Becomes the Safe Haven for Smart Investors as Solana (SOL) Struggles to Maintain Its Bullish Momentum

As Solana (SOL) struggles to maintain its bullish momentum, an increasing number of whale investors are shifting their focus to Coldware (COLD)

Solana (SOL) price continues to trade in the red as key investors, known as "wholes," are reportedly shifting their holdings away from SOL and toward Coldware (COLD) due to its promising technological advancements.

While Solana experiences difficulties maintaining crucial support levels and risks further price declines, Coldware (COLD) is attracting attention with its mobile-first staking model and capabilities in tokenizing real-world assets.

Here's a closer look at the latest developments and analysis.

Solana's Struggles Mount: Price Drops, Whales Sell Holdings

Solana (SOL) price is showing signs of weakness as it trades below the $140 support level. The cryptocurrency faces immediate resistance at $148 and could attempt to reclaim the $150 round number level. However, technical indicators suggest strong bearish momentum, indicating a high probability of further price declines.

Meanwhile, on-chain data from Santiment reveals that major Solana holders, categorized as "wholes," are reducing their holdings. This observation aligns with the recent selling pressure observed in the market as traders and investors adjust their positions.

According to the Santiment analysis, if Solana fails to demonstrate a strong recovery and reclaim the $150 price level, it could slip further, potentially testing the $110 support level in the coming months.