Summary Solana holds $196 after steep pullback from $250 highs. On-chain inflows of $21.6M signal dip-buying interest. Key resistance at $210 must be reclaimed to revive momentum. By Parshwa Turakhiya Solana ( SOL-USD ) is trading near $196, stabilizing after a sharp sell-off from highs above $250 earlier this month. The token’s latest decline tested mid-channel support and the 100-day EMA near $194, a level now acting as a critical pivot for the broader bullish structure. Whether buyers can hold this zone will determine if Solana avoids a deeper retracement toward $181 or even $160, where stronger historical support sits. Technical structure at a crossroads The daily chart shows Solana contained within a broad ascending channel, but momentum has shifted after repeated bearish breaks of structure. Resistance is now stacked at $208 and $219, followed by the $245–$250 ceiling that capped September’s rally. Failure to reclaim the $208–$210 range would leave the token vulnerable to renewed selling pressure. SOL Price Dynamics (Source: TradingView) The RSI has cooled from overbought levels and now sits in neutral territory, reflecting fading buyer conviction. While the long-term channel remains intact, short-term control lies with sellers unless buyers can decisively push back above the $210 threshold. On-chain flows highlight mixed sentiment Exchange data offers a nuanced view. On September 26, Solana registered positive net inflows of $21.6 million, coinciding with price stabilization around $196. This indicates dip-buying interest, though the broader pattern has been uneven, with significant outflows accompanying the decline from $250. Sustained positive flows will be key to offsetting profit-taking and reviving upward momentum. Market participants remain cautious as liquidity conditions tighten. Without consistent inflows, traders may demand lower prices before committing to fresh accumulation, keeping the $181 zone in focus as the next test of demand. Outlook Fundamentally, Solana retains one of the most active ecosystems in blockchain, with vibrant DeFi and NFT activity anchoring long-term investor interest. However, the immediate trajectory is defined by technical positioning and liquidity shifts. If bulls can stabilize above the 100-day EMA and reclaim the $210 zone, the path toward retesting $245–$250 reopens. Otherwise, momentum risks sliding toward $181, where longer-term buyers may find value. Previously, we noted Solana’s heavy selling pressure near $250 and highlighted the importance of structural support in guiding the next move. Today’s action reinforces that view, with the $193–$196 zone emerging as the market’s battleground. The next sessions will reveal whether Solana’s resilience can withstand sustained seller pressure. This material may contain third-party opinions; none of the data and information on this webpage constitutes investment advice according to our Disclaimer . While we adhere to strict Editorial Integrity , this post may contain references to products from our partners. Original Post
