Overview

• SOL is consolidating in the low to mid $230s after a rally of more than 50% since August.
• Lookonchain reported that FalconX withdrew 413,075 SOL from major exchanges within hours, a move that reduces readily available liquidity on venues such as Binance, OKX, Coinbase, and Bybit.
• Treasury and corporate flows continue to grow, with Forward Industries raising about $1.65 billion for a Solana-focused strategy and 17 treasury firms now holding nearly 3% of circulating SOL, while Galaxy Digital lifted its holdings to roughly 6.5 million after a 1.2 million SOL purchase.
• Technical readings remain constructive, with SOL trading above short-term moving averages and key levels defined around $230–$232 for support and roughly $245–$250 for resistance.
• Analysts outline conditional paths, with a break above $250 potentially targeting $260–$300 and failure to hold the $230s risking pullbacks toward about $213 or the $200–$185 area, as heightened meme-coin activity adds near-term volatility.