- SOL bounces above $210 after a $206 sweep amid ~$1.7B market liquidations.
- Solmate targets a $300M raise; Helius disclosed ~760K SOL for treasury.
- Traders eye $200 support, $230–$240 reclaim to reset weekly momentum.
Solana has likely topped for now after rejection near $252. Over the past week, it fell more than 10%, tagging an intraday low near $206 on Wednesday, Sep 24, before stabilizing around $210–$212 by press time.
A broad deleveraging wave, about $1.7 billion in crypto liquidations, followed the Fed’s 25 bp rate cut on Sep 17 and cooled risk appetite. Sentiment slipped with the crypto Fear & Greed Index hovering in the high-30s/low-40s, reflecting rising caution.
Related: Why Solana Matters in the Evolving Crypto Ecosystem
Solana Analysis Signals Mid-Term Risk
Why SOL Faces a Mid-Term Selloff Setup
Solana price was recently rejected again at a major resistance level around $253. In the daily timeframe, SOL price has been forming a risk h wedge in the past few months, with the recent pump potentially a fakeout.
The midterm bearish outlook is supported by the MACD indicator, whereby the daily MACD line recently crossed below the signal line. Additionally, the daily Relative Strength Index (RSI) has retraced from overbought levels and is now possibly headed to oversold levels.
Calm Before the Storm?
In the weekly timeframe, SOL price has been forming a macro ascending triangle pattern. A similar rising wedge was formed during the fourth quarter of 2024, which resulted in a macro correction during the first half of 2025.
If SOL price follows a similar fractal pattern to Q4 last year, the altcoin may drop below $200 again to retest its macro rising logarithmic support trendline.
Nonetheless, it is important to note that SOL price has approached the apex of its macro bullish consolidation, thus likely to break out before the end of this year.
Institutions Keep Backing the “Solana Treasury” Theme
The Solana network has continued to develop with its initial goal of dethroning the Ethereum (ETH) chain as the top web3 ecosystem. As such, institutional investors have continued to aggressively accumulate more Solana coins through treasury management plans.
According to market data analysis from CoinGecko, 9 publicly traded companies have accumulated a total of 13,441,405 Solana coins valued at about $2.83 billion. Forward Industries has the highest Solana holding of over 6.8 million coins, valued at about $1.58 billion. The company plans to tokenize its FORD shares via Superstate’s Opening Bell
Earlier this week, Bera Holding announced its transformation to Solmate to launch a Solana treasury company with a starting capital of $300 million. The company attracted capital from Cathie Wood’s ARK Invest, Pulsar Group, and RockawayX.
Helium Medical added 769,190 Solana coins to its treasury and still has over $335 million at its disposal to make more SOL purchases.
Related: Solana (SOL) Price Prediction For September 23
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
