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2w ago

Solana Slips Below $200 After $45 Million in Longs Liquidated

Oversold readings focus attention on the $200–$210 zone for a potential relief bounce.

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Overview

  • SOL fell through the psychological threshold, hitting about $197.65 on Coinbase, with subsequent prints reported near $191 in the latest session.
  • Coinglass data show roughly $45 million in long positions liquidated against about $2 million in shorts, as open interest fell and trading volumes jumped.
  • Short‑term charts flag a TD Sequential double buy near support with RSI oversold, yet a bearish trend line caps recoveries around $222 with further resistance at $215–$230.
  • Analysts spotlight downside risk if $200 fails, with focus on the $185–$190 area and some calls extending to $180 before stronger bids may appear.
  • Structural signals remain supportive as institutions and treasuries accumulate SOL, stablecoin swaps rise to about 58% of DEX volume while memecoin share falls below 30%, and tokenized RWAs on Solana reach about $671 million including inflows to BlackRock’s BUIDL fund.