Overview

• Solana is trading around $200–$210 after a monthly close above $200, with repeated failures to clear the $215–$220 ceiling.
• A daily golden cross and prior breakout setups keep upside projections focused on $240–$260, with some analysts extending targets toward $300 if resistance is decisively cleared.
• On-chain data shows nearly $1 billion in realized profits after price pierced $210, and about 90% of supply is in profit, a mix that has historically preceded swift pullbacks when momentum stalls.
• Market activity and institutional interest are elevated, including a record $43.88 billion in August perpetual futures volume and public-company holdings exceeding $900 million, while 13 entities reportedly hold 8.27 million SOL.
• An accumulation cluster near $180 underpins support, but exchange balances rising above roughly 32 million SOL highlight near-term downside risk, as pending Solana ETF applications are cited as a potential future catalyst rather than a confirmed driver.