Overview

• Solana is consolidating around $175–$180 after rallying from roughly $160 to about $205 and retracing to the 0.618 Fibonacci support.
• Price is coiling beneath a descending trendline near $185–$188, with a break higher seen opening room toward $200–$215 and failure risking a retest of $175.
• Data from tracker CW8900 indicates most highly leveraged long positions have been cleared, reducing the chance of cascading liquidations.
• RSI readings in the mid-30s place SOL in short-term oversold territory, a zone that has often preceded relief bounces when buyers return.
• Fundamental gauges remain strong, with TVL near $12.1 billion, 30‑day fees around $35.6 million, and futures open interest up to $10.7 billion, signaling steady participation.