A silent transfer of chips is underway.

A bizarre large-scale staking operation yesterday attracted market attention—over 1.17 million SOL were quietly locked, with a corresponding dollar value of up to $148 million. After the event, the price of SOL directly plunged, pushing the key price level of $125, which is a battleground for bulls and bears, back into the spotlight. Meanwhile, the strong support level at $122 has already undergone three consecutive effective validations, and this is not a coincidence.

What can we see from a technical perspective? The recent trend of SOL shows obvious reversal characteristics. Every time it peaks around $125, it encounters a pullback, and this action has repeated multiple times. However, if we closely observe the trading volume, an interesting phenomenon can be found — during the recent peaks, the trading volume has shown a significant increase. What does this usually mean? Large funds are quietly accumulating at lower levels.

The importance of support levels cannot be ignored. The $122 level has been validated three times, indicating that the bears do not have a strong desire to press down— in other words, the main funds do not want to see a significant drop in prices. The sudden increase in staking volume further confirms this: long-term capital is entering the market.

From the perspective of staking data, the staking scale of 1.17 million SOL sends a clear signal — large holders are demonstrating bullish expectations through their actions. Staking lock-up means that this portion of assets will not flow into the market for at least the medium term, which provides a natural support effect on the price. At the same time, recent attempts to break the $125 mark can be seen as a form of "chip cleaning" — encouraging holders to relinquish some positions at lower levels.

Combining these signals, a breakout at $125 seems just a matter of time. Once this level is breached, the next target should be around $127. This wave of increase is expected to be around $3. The key is that the current growth in staking, coupled with an increase in trading volume, points in one direction: the bulls are re-establishing control.

For traders, understanding the strength of support levels, the meaning of staking data, and the signals of volume changes are key to grasping the market rhythm. When large funds vote with real money, the price will ultimately provide the answer.