Overview

• Solana traded in the mid‑$220s after clearing $220 for the first time in months, preserving a bullish pattern of higher highs and higher lows.
• More than $17 million in short positions were liquidated during the move, with on‑chain perpetuals leading liquidations over centralized venues.
• Near‑term resistance sits around $238 and $250, with some charts flagging a higher test near $260, while reclaimed zones near $216–$225 are viewed as support.
• If momentum stalls, analysts highlight $200 as a key support to hold, with downside risk outlined toward $190–$186 on a deeper pullback.
• Reported drivers include a surge in on‑chain liquidity above $1 billion and validator backing for the Alpenglow upgrade, while claims of large Galaxy Digital purchases come from social/on‑chain trackers and have not been independently verified.