Solana price is holding above $231, with participants eyeing key support at $225 and resistance near $245 as market sentiment remains mixed.
Solana price is holding steady near $231, but the mood feels mixed as traders weigh the next big move. The market has been stuck in a narrow range, hinting that a breakout or breakdown could be around the corner.
Solana Price Holds Above $231 With Mixed Outlook
SOL Solana price is currently trading around $231.87, holding a market cap above $126B with daily volumes near $7.6B. Structurally, the range remains tight, leaving room for either a continuation leg higher or a corrective pullback. The sideways movement seen in the last 24 hours suggests the price is preparing for a larger move.
Solana current price is $231.87, up 1.23% in the last 24 hours. Source: Brave New Coin
From here, participants will be watching whether Solana can sustain above the $225 to $230 zone, which has been a strong pivot area in recent weeks. A breakdown risks exposing the $215 to $210 region, while holding current levels opens the door for retests towards $245 to $250 in the short term. This neutral stance keeps both bullish and bearish scenarios in play.
Rotation Levels in Focus Around $210–$214
Technical readings shared by Trader XO highlight Solana’s short-term structure, with the $210 to $214 band showing up as a potential rotation zone. This area lines up with multiple demand tests from previous dips, meaning buyers have stepped in here consistently.
Solana’s $210–$214 zone emerges as a key battleground where bulls and bears prepare for the next decisive move. Source: Trader XO via X
If Solana price revisits this region, it would likely act as a battleground where bulls look to absorb liquidity before driving price higher. On the other hand, a failure to defend $210 could extend losses into the $200 handle, where deeper demand has previously shown itself. XO’s chart leaves room for near-term caution despite the broader bullish cycle.
Treasury Flows Keep Outlook Cautious
Ted highlighted Solana treasury stocks, which show signs of limited SOL Solana buying compared to BTC and ETH. This shift in big-money allocation paints a cautious picture, as capital rotation often dictates which assets lead during risk-on phases.
Solana’s treasury flows reveal weaker allocation versus BTC and ETH, keeping its near-term outlook cautious. Source: Ted via X
The data suggests November could mark an important turning point. Ted noted that while a reversal remains possible, dips are also in play until liquidity rotation shifts back towards Solana. For now, the cautious stance remains in effect for Solana price.
Solana Price Consolidation Could Surprise to the Upside
Famous crypto analyst ShardiB2 pointed out that Solana price has been lagging and consolidating, with multiple rejections but no major breakdown. This structure leaves room for a surprise move, especially as consolidation phases often resolve with strong directional legs.
Solana’s tight consolidation near $225–$227 may be setting the stage for a breakout above $240. Source: ShardiB2 via X
The chart highlights clustered support around $225 to $227, which if defended, may serve as the launchpad for a recovery. RSI readings remain balanced, and volume spikes suggest buyers are quietly building positions. If bulls regain momentum, a breakout above $238 to $240 could quickly retest $250 and beyond.
Whales Step In as Price Slips Below $230
On-chain data from SolanaFloor reported that whales withdrew over 408,000 SOL (≈$91M) from Coinbase as the price dipped below $230. This behavior signals aggressive accumulation during weakness, where large players absorb supply from exchanges.
Whales pulled 408,000 SOL worth $91M from Coinbase as price dipped, signaling aggressive accumulation. Source: SolanaFloor via X
Such moves are generally viewed as bullish, since whale activity tends to precede broader uptrends. If accumulation continues, it could cushion downside risks and prepare the ground for another push towards the mid-$240s. Market participants see this as a sign that confidence remains strong among big holders.
Final Thoughts: Market Sentiment and Risks
Solana’s steady hold around $231 shows resilience, but the mixed signals across technicals and treasury flows keep the outlook cautious. While whales accumulating at lower levels suggest confidence in future upside, the broader market rotation into BTC and ETH has temporarily slowed Solana’s momentum.
If these Solana price levels around $225 to $227 continue to hold, this zone could become the launchpad for another leg higher, potentially retesting $245 and beyond. Participants should weigh both sides carefully; optimism is supported by accumulation and cycle strength, but risks tied to liquidity shifts and volatility cannot be ignored.