As Q3 ends, Solana (SOL) faces scrutiny due to a market downturn that saw its price drop to $130. This decline is exacerbated by a major whale offloading large amounts of SOL, adding to selling pressure. According to Lookonchain, this entity has sold 695,000 SOL worth about $99.5 million this year, averaging weekly sales of around $2.76 million. Despite these sales, the whale still holds 1.88 million SOL valued at $255.89 million.

The ongoing sell-off by this large entity could significantly impact Solana's market if other major holders follow suit. Solana is currently struggling to hold above the $135 support level, with risks of further declines if this level is breached. However, a broader market recovery in Q4 could help SOL avoid falling below $100.