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Solana Stalls Near $230 With $200 Mark Emerging as Make-or-Break Support

Clustered leverage below $220 puts Solana’s freshly rebuilt $200 base to a decisive test.

Overview

  • SOL is hovering around the high‑$220s after slipping below $230 over the weekend, with buyers having defended the $200 level since late September.
  • On-chain data show roughly $200 million in long positions concentrated between $200 and $220, creating a liquidation pocket that could force a sweep of support.
  • An estimated $1.03 billion in SOL was taken off near $234 on October 2, a profit‑taking wave that preceded a pullback toward $228.
  • Analysts point to $245 as the next notable on‑chain resistance and see $240–$250 as the technical gate that, if reclaimed, could open targets nearer $300–$380.
  • A late‑September capitulation flipped NRPL negative with about $1.7 billion in realized losses, and risk appetite across altcoins remains constrained as rotation indicators cool.