Sep 25, 2025
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Solana Falls Below $200 Following $45M Long Liquidations
The price of Solana has fallen below $200, hitting a 23-day low at $197.65, as it experiences a five-day decline since September 21.
Key Points
- Panic selling is evident among traders, with Solana's open interest dropping by 4.52% to $14.2 billion and trading volume rising by 8.2% to $29.5 billion.
- Significant liquidations occurred in the derivatives market, with over $45 million in long positions liquidated compared to $2 million in short positions.
- This trend aligns with other major cryptocurrencies like Ethereum, which also fell by 6%, and XRP, declining by 5.7%.
- Bitcoin rebounded due to fresh corporate inflows from Europe.
Price Forecast
- Solana's price is near the $197.65 support level, with potential for further decline to the $189.81 zone if it falls below this key support.
- Technical indicators show bearish momentum, with RSI at 37.47 and BBP at -35.47, indicating weak buyer participation.
- A recovery requires surpassing the resistance at $210 to signal a bullish reversal, potentially targeting $254.72 if sentiment improves.
- Current macroeconomic conditions and recent liquidations suggest that buyers are hesitant to defend positions.
The outlook for Solana remains fragile without increased spot-trading volumes and improved market sentiment.