Sep 16, 2025

7 0

Solana’s SOL Holds Key Support at $233 Amidst Market Volatility

Solana's (SOL) price traded at $232.11 as of 12:30 UTC on Sept. 16, after fluctuating between $230 and $238.

Analyst's View

Trader Altcoin Sherpa favors SOL and BNB over ETH, citing new funding flows and market structures benefiting SOL.
He indicates that major coins move with BTC: SOL and BNB could outperform if BTC rallies.
Sherpa holds long positions in SOL and BNB, with a smaller position in ETH.

Technical Analysis

SOL fluctuated within an $8 range from $230.13 to $238.09 during Sept. 15–16.
Heavy selling occurred on Sept. 15, with volume spiking to 1.5 million units.
The $233–$234 zone was defended by buyers, showing institutional and retail activity.
Price action improved, breaking out to $236.90 before stabilizing near $237.50–$238 resistance.

Chart Analysis

In the past 24 hours, SOL settled at $232.11, reinforcing short-term support at $232–$234.
The one-month chart shows an overall upward trend, but recent consolidation indicates a test of support before potential gains.