Solana Fails To Hold Above $200 Amid $130 Million SOL Selling
Solana faces $132 million in selling as holders offload tokens, yet historical patterns hint that a rebound above $200 could soon follow.
Solana’s price movement has remained largely stagnant over the past few days as the broader crypto market shows uncertainty.
Despite a strong start earlier in the month, SOL has struggled to maintain upward momentum. Investor sentiment appears divided, with some holders taking profits while others brace for potential recovery.
Solana Investors Sell Sharply
Over the past week, Solana investors have been turning to the selling side. On-chain data shows that more than $132 million worth of SOL has been sent to exchanges during this period. This influx reflects heightened sell-side pressure as traders move to secure gains or exit amid uncertainty.
Even though the SOL sold is relatively less, it does show that panic selling has been evident; others are liquidating positions at minor rallies, suggesting a lack of confidence in sustained price growth. However, this selling is not strong enough to hold Solana price’s recovery back even if it caused a minor dip in price.
Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
Solana Exchange Balance. Source;
Glassnode
The short-term holder Net Unrealized Profit/Loss (STH NUPL) indicator currently sits in the capitulation zone, signaling that most short-term holders are selling at a loss. Historically, when this occurs during a broadly positive market, it has marked the beginning of a rebound phase. This pattern has been observed multiple times in Solana’s previous cycles.
When investors stop selling at losses and begin waiting for profit-taking opportunities instead, market pressure tends to ease. This dynamic could trigger a shift toward accumulation, potentially leading to a short-term rally.
Solana STH NUPL. Source;
Glassnode
SOL Price Can Bounce Back
Solana’s price currently stands at $192, holding just above a key support level at the same mark. The altcoin recently dipped after failing to secure a foothold above $200, but resilience at this level remains a positive sign.
Given the current on-chain dynamics, SOL may soon reverse its recent losses. A successful breakout above $200 and $205 could pave the way toward $213, signaling renewed bullish momentum.
Solana Price Analysis. Source:
TradingView
However, if selling continues to dominate and confidence remains weak, Solana’s price could fall to $183. Such a decline would invalidate the bullish outlook and deepen the short-term downtrend.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Wall Street giants collectively raise rate hike forecasts, US Treasury futures continue to fall, gold drops over 1% to break 4000
After the US October CPI exceeded expectations, Goldman Sachs and Nomura added a forecast for an interest rate hike in March next year, while Deutsche Bank included a forecast for a rate hike in January next year. Currently, the market has fully priced in a 25 basis point rate hike in December, with a 13% probability for a 50 basis point hike. On Wednesday, the US Treasury spot market was closed, but Treasury futures continued to fall, with corresponding yields rising by about 2 to 4 basis points, and spot gold came under pressure, dropping by 1.1%.
No Need to Worry About the Cooling Down of AI Data Center Construction? The US Import Boom Is Unlikely to Subside in the Short Term, Real Impact May Come in 2029
It takes an average of 4.8 years from finalizing investment to starting construction of a data center project, and an additional 2.6 years from construction start to becoming operational. Servers usually cannot be installed until after the building structure and racks are completed. For trade partners such as Taiwan (China), South Korea, and Mexico who rely on US data center supply chain demand, the inertia in construction timelines provides at least a one- to two-year buffer for future exports.
Federal Reserve Major Debate: When Should the Tenure of “Number Three” Williams End?
The main point of contention is whether Williams should step down in June 2028, upon completing a full 10-year term, or in June 2027, when he reaches the mandatory retirement age of 65. Analysts point out that the Federal Reserve Board holds ultimate discretion; if he leaves early, Fed Chair Waller would be able to assert greater control over the appointment to this critical position. However, forcing Williams to shorten his term could easily be interpreted as political manipulation. Williams himself is expected to serve until June 2028.
Crypto prices
More
