Overview

• Solana slid roughly 15–20% on the week and lost support near $214, trading around $195–$205 through the weekend.
• Futures participation reset as open interest fell to about $13.4–$14 billion, roughly 17% below mid‑September levels.
• On‑chain trackers report large holders transferring SOL to exchanges, reinforcing profit‑taking and sell pressure.
• Institutional angles are in focus with Canary Capital filing for a staking-enabled SOL ETF and the REX‑Osprey SOL + Staking ETF reporting ongoing inflows and about $301 million in assets.
• Analysts flag $200 as the key level, with resistance clustered near $218 and scenarios ranging from a rebound toward $230–$260 to a deeper retest toward $150 if support breaks.