Overview

• As of early Oct. 6, SOL is trading above $225 and rebounding toward $235, with near-term resistance at $238–$242 and a larger supply wall around $245.
• Analysts continue to cite $200 as the pivotal base, noting roughly $200 million in long exposure clustered at $200–$220 that could draw a liquidity-driven retest into $217–$220 or even $200.
• Heatmap and technician views suggest clearing downside liquidity may reset order books and set up attempts at $250–$260 if $225–$230 holds.
• Institutional and network signals remain supportive, with the REX‑Osprey SOL + Staking ETF around $404 million in assets and Solana’s stablecoin supply near a record $15 billion.
• On-chain participation is weakening, with new addresses at a yearly low and Chaikin Money Flow indicating limited inflows that could constrain a sustained move above $250.