Overview

• Solana climbed to as high as $226 and is consolidating in the low-to-mid $200s after breaking above the $220 resistance for the first time in months.
• Reports show millions of dollars in short positions were liquidated on the move, with tallies ranging from about $6.3 million to over $17 million.
• Data cited by Blockonomi indicates decentralized on-chain perpetual venues led liquidations over centralized exchanges, underscoring heavier on-chain trading activity.
• Analysts now point to $250 as the next key level with an upper zone near $259–$260, citing bullish signals including a golden cross, RSI above 50, and a triangle breakout.
• On-chain liquidity has topped $1 billion and ETF applications face October 16 SEC deadlines, while $200 remains the critical support level with pullback risk toward the high-$180s if it fails.