Overview

• Solana trades around $195–$199 after a roughly 20% weekly slide, having lost the $214 and $200 support levels.
• On-chain data points to large holders sending tokens to exchanges, reinforcing profit-taking and sell-side liquidity.
• Momentum gauges show oversold readings, with traders eyeing a reclaim of $202–$210 and then $230 to signal a stronger rebound.
• Analysts caution that a breakdown of the $185–$190 zone could open downside toward $170–$156 or even the $150 area.
• The retreat tracks a broader crypto pullback as Bitcoin and Ethereum fall, while SOL futures open interest has dropped 17% since Sept. 19 and short-term holder metrics show weak conviction.