Overview

• After a strong August advance, SOL is consolidating in the low $200s near a $210–$220 ceiling that has repeatedly capped rebounds.
• Analyst Ali Martinez reports investors realized nearly $1 billion in gains on pushes above $210, creating a clear supply barrier.
• More than 90% of circulating supply sits in profit and exchange balances have climbed back above roughly 32 million SOL, both seen as precursors to selling pressure.
• SOL remains in a weekly ascending wedge with supports near $195 and $182, with a break below risking a move toward $160, while a decisive close above $217–$220 could target $240–$260.
• Institutional interest and seasonality offer a counterweight, with 13 entities reported holding 8.27 million SOL and August’s perpetual futures volume hitting a $43.88 billion peak.