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According to one popular crypto analyst on X (formerly Twitter), CW, there are several “sell walls” lying in the way of SOL as it attempts to reestablish its position in the bull market. He tweeted:
Solana’s Price Action
Solana has faced an uncertain situation overall as it navigates its long-term positioning in the cryptocurrency market. Here is the cryptocurrency’s price activity from the last 12 months:
Solana was in a major bullish position in January of this year, when the index reached an All-Time High (ATH) of $294. However, the digital currency experienced a major downtrend soon afterwards, and the downward market forces pulled it below $100 at one point in April. After that, it has been a story of hit-and-miss for the programmable cryptocurrency.
Lately, the situation is looking upbeat at the moment as the crypto market has registered major bullish price action in the last week or so, with Bitcoin breaking ATHs for fun and much of the altcoin field following it. SOL has been a little late to the party, but it is closing in on the $200 valuation fast, and it will be interesting to see what it makes of the situation.
 
The Future
For the Solana bulls, overcoming the sell walls, particularly the big ones at $240 and the current ATH of $294, remains the most significant point of concern. The programmable digital asset is among the most developed and researched networks in the cryptocurrency world, and a significant amount of groundbreaking developmental work is being done on the SOL chain. So, it appears likely that the on-chain success can be translated into on-market activity.
Top analysts are now bullish on Solana, mainly because it has reclaimed its 200-day moving average and EMA. Adding to the buzz, major meme coin activity built on the Solana network has seen a 13.3% increase this week, resulting in renewed interest in the digital asset.
If SOL breaks the $200 barrier confidently and continues its progress, it can become a major success story of the 2025 digital currency boom. If not, its price is likely to perform at subpar levels and gradually spiral downwards during the anticipated 2026-2027 bear market.
Source: https://zycrypto.com/solana-sol-trying-to-free-itself-from-the-sell-wall-above-200-as-it-remains-in-oversold-territory/