A massive Solana whale may be compromised, according to on-chain investigator ZachXBT, who flagged suspicious activity from an early wallet tied to Solana’s genesis distribution.
The suspected theft of 180,900 SOL, worth approximately $14.2 million, has rattled the market and raised fresh questions about wallet security. The funds were unstaked, bridged from Solana to Ethereum, and dispersed across multiple wallets.
The incident comes at an important moment for SOL, which has been attempting to build a base after plunging to three-year lows near $60.
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Massive Solana Whale May Have Been Hacked: What We Know So Far
The suspected wallet compromise happened in an unusual sequence. The wallet reportedly unstaked 180,900 SOL, then bridged the funds to Ethereum before dispersing them across multiple addresses.
Blockchain investigator Specter joined ZachXBT in flagging the activity, though the exact attack vector, whether private key theft, phishing, or malware, remains unconfirmed.
The wallet owner’s identity has not been publicly disclosed. It also remains unclear whether the stolen funds have been sold or are simply being moved across addresses.
Crypto Patel described the event as one of the largest recent Solana wallet exploits. Despite the hack, SOL’s price has shown resilience, holding above $76. This means that the market is treating the incident as an isolated event rather than a vulnerability.
Why the $72–$75 Demand Zone Is Critical for SOL’s Next Move
The $72-$75 range is the most important support level on SOL’s daily chart. Analyst BATMAN called this a major demand zone inside a bullish ascending channel.
A break below this level would likely trigger stops and send SOL toward the $60-$62 region. A hold, however, could confirm the current consolidation is accumulation before a move to $90.
The daily chart shows buyers defended the $60-$62 demand zone aggressively in June. Price produced a higher low and higher high from June into early July.
$SOL is retesting a massive demand zone inside a bullish ascending channel.
— BATMAN ⚡ (@CryptosBatman) July 11, 2026
Hold $72-$75 and the next move could send price straight toward $90+ before challenging the major resistance zone near $100.
The trend is still intact. The next breakout could be explosive. pic.twitter.com/n1NKCN06V2
The current move is a healthy pullback rather than an outright trend reversal. The overall structure is gradually improving, although SOL still hasn’t reclaimed the $90 area.
Immediate support sits at $76-$77, with major support at $72-$73. Losing this level could expose $68, then $62, and eventually the June lows.
On the upside, a daily close above $84 would confirm buyers are regaining control. That would open the door toward $90-$100.
Read also: HBAR Price Crashes as Hedera Exploit Hits Network
Solana Is More Oversold Than During the FTX Crash: Here’s What the Charts Say
Ash Crypto shared that SOL’s monthly RSI is more oversold than during the 2022 FTX crash when SOL dropped to $8. The token has also posted eight consecutive red monthly candles for the first time in history.
This extreme oversold condition suggests the selling exhaustion may be near its end.
The daily chart is similar to a base-building accumulation range following a prolonged drop. Characteristics include repeated higher lows, stable support around $60, multiple failed breakdowns, and compression underneath resistance.
The Ultimate Oscillator on the daily sits at 51, which is almost exactly neutral territory. This suggests momentum has cooled after the recent rally but that buyers still maintain a slight advantage.
The Stochastic RSI is moving lower after exiting overbought territory and means that short-term momentum has weakened. Another bullish crossover from current levels would be constructive.
SOL Price Analysis: Can Bulls Regain Momentum Toward $90?
Current price action shows SOL trading near $78, with a neutral to mildly bullish daily trend after recovering from the June lows.
The 4H chart shows consolidation following a strong impulse rally from $66 to $83. Price is now trading sideways between $76 and $80.
The 4H Ultimate Oscillator at 56.6 shows slightly bullish momentum. Unlike the daily chart, the 4H oscillator has been gradually improving. This means that the buyers are attempting to regain strength.
A breakout above $80 could quickly push momentum back into bullish territory. If SOL can hold above $76-$77, break $80, and close above $84, the next upside targets become $90, $95, and $100. A breakdown below $76 would weaken the bullish structure and expose lower levels.
Is This Panic the Bottom for Solana or the Start of Another Leg Lower?
The suspected whale compromise adds uncertainty to SOL’s recovery, but the price action suggests the market is treating this as an isolated event.
The $72-$75 support zone remains the line in the sand. If this level holds, the extreme oversold conditions and base-building accumulation pattern favor a recovery for Solana investors.
The bearish case requires a break below $72, which would open the door toward $60 and invalidate the current recovery structure. The key levels are clear. Watch $72-$75.
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