Solana Rally Paused? Traders Eye $239 as Must-Break Level

TL;DR

• $239 acts as a serious resistance, with heavy holder focus seen between $230 and $240 ranges.
• Solana trades in an ascending channel; failure to interrupt $239 might set off a correction to $220–$200.
• On-chain information reveals sturdy whale backing close to $232, however profit-taking strain is constructing quick.

Key Resistance Close to $239

Solana (SOL) was buying and selling at $234 at press time, with a 24-hour buying and selling quantity of $8 billion. The asset has eased barely up to now day however stays 6% greater over the week. Market focus is now on the $239 space, the place analysts see a transparent resistance barrier.

Analyst Ali Martinez stated,

$239 is now a very powerful resistance wall forward of Solana $SOL! pic.twitter.com/0TI0G5XcW0

— Ali (@ali_charts) September 17, 2025

Information from the UTXO Realized Value Distribution (URPD) chart reveals a heavy cluster of holdings between $230 and $240, with a focus at $239. Such ranges usually act as provide zones, as many holders who purchased in that vary could look to promote as soon as costs revisit it.

Buying and selling Construction and Channel Outlook

IncomeSharks shared a chart displaying Solana buying and selling inside an ascending channel that has guided the worth since early summer season. The channel has produced steadily greater highs and better lows, however the dotted line drawn at $239–$240 stays the important thing degree to look at.

IncomeSharks commented, “A detailed above the dotted line and I’ll name it invalidated,” referring to the potential corrective path marked on the chart. That state of affairs suggests worth might slip again towards $220 and even $200 earlier than discovering help. Each areas line up with mid- and lower-channel boundaries and would protect the overall trend.

As well as, Mags noted similarities between Solana and Binance Coin (BNB). The analyst described the cycle as pump, re-accumulation, after which a transfer to new highs. BNB has already damaged right into a recent all-time excessive, whereas Solana is lagging.

Charts shared by Mags present Solana’s sturdy rally in 2023–2024, adopted by a re-accumulation section. Value motion now suggests the token might be getting ready for an additional leg greater. “Chances are high Solana catches up quickly,” Mags wrote, pointing to the structural resemblance to BNB.

Revenue Taking and Massive Holders

Greg Miller stated,

$SOL holders have been locking in large earnings as worth pushes close to $250.

Chart reveals realized good points averaging $1B/day in mid Sept, clear indicators of heavy revenue taking into the ETF & treasury hype rally.

Quick time period promoting strain is actual, however the larger development for Solana nonetheless… pic.twitter.com/pOvW4t5acQ

— Greg Miller (@greg_miller05) September 17, 2025

Realized good points averaged about $1 billion per day in mid-September, pointing to heavy profit-taking in the course of the latest rally tied to ETF and treasury headlines.

In the meantime, on-chain information from Lookonchain shows six strategic entities every holding multiple million SOL. Ahead Industries has the biggest place with 6.82 million SOL, valued at $1.58 billion, at a mean price of $232. These holdings present sturdy backing close to present costs, although additionally they add to potential provide if profit-taking continues.