Solana Drops 7%, But This Key Support Could Spark a Rally

TL;DR

• SOL drops 7% after hitting key resistance; help at $223 now in focus for short-term bounce.
• Rounded backside breakout on SOL/BTC might retest help earlier than pattern continuation resumes.
• Pantera Capital sees rising curiosity in Solana as ETF hypothesis and adoption rise.

Rejection at Resistance Sends SOL Decrease

Solana (SOL) is buying and selling round $223, after falling greater than 7% within the final 24 hours. Over the previous week, it has declined by practically 5%. The transfer down comes after the worth examined the $250 resistance degree, which is similar zone that capped it earlier than the earlier all-time excessive.

In the meantime, the weekly chart exhibits that this degree continues to behave as sturdy resistance. Regardless of the rejection, the longer-term pattern stays upward. Analyst Lennaert Snyder commented:

$SOL in a nutshell.

It completely examined key $253 resistance, the final cease earlier than a brand new ATH.

The market dumped, however @solana maintains its sturdy uptrend.

So long as we’re buying and selling above $186 weekly help, the uptrend stays intact.

Deeper retests are good for longs. pic.twitter.com/Xdg8VTt6rk

— Lennaert Snyder (@LennaertSnyder) September 22, 2025

This space had served as resistance earlier than and now holds as the important thing help within the present market construction. On the 4-hour chart, this zone has acted as a base throughout earlier consolidation phases. If this degree holds, it might open the best way for a brief transfer towards $240–$245.

Market watcher BitGuru noted:

“If this degree holds, we may even see one other bounce towards $240–$245, however a breakdown might ship it decrease towards $220.”

Worth motion stays unsure at this degree. If it breaks, the subsequent key help sits close to $220, an space the place consumers beforehand stepped in throughout sideways motion.

SOL/BTC Exhibits Breakout, Retest Nonetheless Potential

The SOL/BTC chart on the weekly timeframe exhibits a accomplished rounded backside sample, fashioned between March and August this 12 months. The breakout above the 0.00185–0.002 BTC vary led to a 60% rally, with the worth now above 0.0032 BTC.

Based on analyst Cas Abbé, a retest could also be due after the sharp transfer up. “SOL/BTC might retest its main help zone,” he mentioned, including {that a} return to the breakout degree wouldn’t be uncommon after such a transfer. The help zone has acted as a pivot space earlier than and could also be monitored intently within the days forward.

$SOL/$BTC might retest its main help zone.

SOL/BTC pumped practically 60% from its backside, so a correction is predicted.

As soon as that occurs, the subsequent rally will begin. pic.twitter.com/1ZyWHVsaYF

— Cas Abbé (@cas_abbe) September 22, 2025

As well as, as reported by CryptoPotato, Pantera Capital mentioned that Solana is reaching a serious level in its adoption path. The agency pointed to rising consideration from fintech corporations, builders, and retail customers. Additionally they talked about that institutional publicity to SOL stays low relative to different large-cap property.

Pantera urged that if a Solana-based ETF is permitted, it might result in stronger institutional inflows. Whereas the timeline is unsure, the agency described Solana as being well-positioned in its ecosystem and infrastructure.