Solana Rally Paused? Merchants Eye $239 as Should-Break Stage

Tl; dr

• $ 239 ACTS As and Main Resistance, with Heavy Holder Focus Seen Between $ 230 and $ 240 Ranges.
• Solana Trades in an ascending Channel; FAILURE TO BREAK $ 239 COULD TRIGGER AND CORRECTION TO $ 220– $ 200.
• On-Chain Knowledge Reveals Sturdy Whale Backing Close to $ 232, However Revenue-Taking Strain Is Constructing Quick.

Key Resistance Close to $ 239

Solana (SOL) WAS WAS TRADING AT $ 234 at Press Time, with a 24-Hour Buying and selling Quantity of $ 8 Billion. The Asset Has EASED SLIGHTLY IN the Previous Day However Stays 6% Larger Over the Week. Market Focus is now on the $ 239 Space, The place Analysts See and Clear Resistance Barrier.

Analyst Ali Martinez Mentioned,

$ 239 is now the Most Vital Resistance Wall Forward of Solana $ SOL! pic.twitter.com/0TI0G5XCW0

– Ali (@ali_charts) September 17, 2025

Knowledge from the utxo realized Value Distribution (Urpd) Chart Reveals and Heavy Cluster of Holdings Between $ 230 and $ 240, With A Focus AT $ 239. Drought Ranges OFTEN ACT AS SUPPLY ZONES, AS MANY HOLDERS WHO BOUGHT IN THAT RANGE Might LOOK TO SELL ONCE PRICES REVISIT IT.

Buying and selling Construction and Channel Outlook

Incomesharks Shared and Chart Exhibiting Solan Buying and selling Inside an Ascending Channel That Has Guided The Value Since Early Summer season. The Channel Has Has Produced steadly Larger Highs and Larger Lows, However the Dotted Line Drawn at $ 239– $ 240 Stays The Key Stage to Watch.

Incomesharks Commented, ”and Shut Above the Dotted Line and I am going to Name It Invalidated,” Referring to the Attainable Corrective Path on the Chart. THAT SPORTIO SUGGESTS PRICE COULD SLIP BACK TEWARD $ 220 OR EVEN $ 200 Earlier than Discovering Assist. Each Areas Line Up with Mid- and Decrease-Channel Boundaries and Would Protect The Total Pattern.

In Addition, Mags noted Similarities Between Solan and Binance Coin (BNB). The Analyst Described The Cycle As Pump, Re-ACCUMULATION, AND THEN and Transfer to New Highs. BNB HAS Already Damaged Into and Recent All-Time Excessive, Whereas Solana is Lagging.

Charts Shared by Mags Present Solan’s Sturdy Rally in 2023-2024, Adopted by and Re-ACCUMULATION PHASE. Value Motion NOW SUGGESTS THE TOKEN COULD BE Getting ready for One other Leg Larger. “Probabilities Are Solan Catches up Quickly,” Mags Wrote, Pointing to the Structural Resemblance To BNB.

Revenue Taking and Giant Holders

Greg Miller Mentioned,

$ SOL HOLDERS Have Been Locking in Huge Earnings As Value Pushes Close to $ 250.

Chart exhibits realized positive factors averging $ 1b/day in mid sept, Clear Indicators of Heavy Revenue Taking Into The ETF & Treasury Hype Rally.

Brief Time period Promoting Strain is Actual, However the Larger Pattern for Solan Nonetheless… pic.twitter.com/povw4T5ACQ

– Greg Miller (@Greg_miller05) September 17, 2025

Realized positive factors Averaged About $ 1 Billion Per Day in Mid-September, Pointing To Heavy Revenue-Taking Throughout the Rectcent Rally Tied to ETF and Treasury Headlines.

In the meantime, on-chain information from loopchain showows Six strategic entities every Holding Extra Than One Million Sol. Ahead Industries Has The Largest Place with 6.82 Million Sol, Valued AT $ 1.58 billion, at an Common Price of $ 232. These Holdings Present Sturdy Backing Close to Present Prips, Although They ALSO ALSO ADD TO POTENTIAL SUPPLY IF PROFIT-TAKING Continues.