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Seeking Alpha 2025-09-16 23:25:00

Solana Holds Near $236 As Whale Staking Builds Pressure At Resistance

Summary Solana price consolidates at $236 after testing $237 earlier in the session. Whales staked more than $1.5 billion in SOL, reducing circulating supply. A breakout above $240 could accelerate gains toward $260 and $280. By Parshwa Turakhiya Solana ( SOL-USD ) is trading around $235.87, consolidating after briefly touching $237 earlier in the session. The token remains in a rising channel that has defined its uptrend since June, supported by strong inflows and whale accumulation that continue to underpin its structure. Technical barriers emerge at $240 The daily chart shows Solana holding comfortably above its 20-day EMA at $219 and 50-day EMA at $201. Broader support rests near the 200-day EMA at $176. The immediate challenge is the $240–$245 resistance zone, where the upper channel trendline aligns with a key Fibonacci cluster. A clean break above this barrier would likely expose the $260 and $280 levels, while a failure to defend $219 risks a slide toward $201 and $187. SOLUSD price dynamics (Source: TradingView) Momentum indicators remain constructive. The RSI prints near 65, reflecting controlled consolidation rather than exhaustion. If RSI reclaims 70 while price sustains above $240, momentum buyers could trigger the next leg higher. Whale accumulation supports conviction On-chain flows highlight growing institutional involvement. Net inflows of $39.7 million entered exchanges on September 16, extending a trend of positive flows through September after months of stagnation. This suggests accumulation pressure is building, aligning with the price recovery. Whale wallets have been particularly active. More than $1.5 billion worth of SOL shifted through Coinbase Prime and Forward Industries staking accounts over the past week. Large tranches of nearly 987,000 SOL, worth about $237 million each, were staked, with additional transfers of 439,000 SOL (~$99 million each) sent into custody. These movements reduce circulating supply and signal long-term commitment rather than speculative rotation. Outlook hinges on breakout Solana’s near-term trajectory depends on whether it can overcome resistance at $240–$245. A confirmed close above this level could open a run toward $260 and $280, while rejection would likely send the token back to the $219 support cluster. Institutional staking and whale inflows provide a strong structural base, reinforcing conviction that Solana remains a leading candidate for outperformance in the current cycle. The scale of accumulation has also fueled speculation that SOL could reach far higher levels if momentum persists, though traders remain cautious near technical resistance. Previously, we noted that Solana’s outperformance against Ethereum was being reinforced by positive inflows and retail rotation into high-beta altcoins. The latest data on whale staking further validates this trend, suggesting that both institutional and retail forces are aligning to sustain the rally. This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer . While we adhere to strict Editorial Integrity , this post may contain references to products from our partners. Original Post