SkyAI: Transfers 1.57M SOL Worth $175M in October

SkyAI has transferred 1.57M $SOL worth $175M out of its wallets in October after disclosing the sale of 1M $SOL for $107M, with on-chain records showing the entity may keep selling.

The firm bought at an average price near $194 and now faces losses exceeding $160M on its remaining position.

Price action on the 4h chart shows SOL at $106.61 inside a bearish structure with EMA50 at $112.65 and EMA200 at $111.78 acting as overhead resistance, while MACD registers a death cross at -1.42; RSI at 33.61 leaves room for further downside before any relief, and the lower Bollinger band at $106.48 now serves as immediate support with the upper band at $113.28 capping any short-term bounce.