Overview

• Solana trades near $182–$184 after failing to sustain a move above $200, with recent lows around $168 and a tight range forming between roughly $170 and $185.
• Derivatives participation has cooled sharply as futures volume fell 46% to $18.9 billion, open interest slipped to $8.6 billion, and options volumes dropped 62%, signaling softer speculative appetite.
• Analysts are divided, with some highlighting a double bottom, bullish RSI divergence, and an ascending channel that could point toward $220–$270 if support holds.
• Others flag a bearish structure after the rejection near $250, noting resistance around $233–$250 and warning that a larger ABC correction could unfold, with one projection pointing to the $40 area over the mid-term.
• On-chain liquidity shows caution after roughly $400 million in stablecoins left the Solana network, while a teased Oct. 20 announcement is viewed as a potential catalyst for a move out of the current consolidation.