Solana's Current Market Position
Solana's market structure is at a strategic crossroads as the asset converges around its critical support of $190. This area can set the direction of the current positive trend in Solana; will it proceed to new highs or begin a larger correction period as the market becomes increasingly uncertain?
- •Solana’s $190 level aligns with both horizontal and channel support, shaping a pivotal point for its near-term direction.
- •The market information shows that long traders are still in control of positions, but there is cautiousness with SOL approaching to the level of $185.
- •Liquidation pressure shows mixed signals, suggesting a potential short-term rebound if support holds steady.
Solana Tests Structural Support Amid Market Uncertainty
Solana’s recent trading activity positions the asset at a critical juncture, as price action consolidates near the $190 support zone. The level serves as both horizontal support and the lower boundary of an ascending parallel channel that has guided the uptrend since April 2025.
Analyst Ali (@ali_charts) emphasized that “Solana must hold $190 as support to have a chance at rebounding to $240 or even $300.” This technical view places $190 as a defining level where market sentiment and structural integrity converge. A defense of this area would maintain the broader bullish rhythm, potentially reactivating momentum toward higher resistance zones.
The channel’s midline, situated between $220 and $230, remains a historical pivot area. Price reactions around this zone have repeatedly shifted between resistance and support, shaping a cyclical price pattern consistent with accumulation and reaccumulation phases across Solana’s market history.
Traders Maintain Long Bias Despite Short-Term Weakness
Solana is currently trading at $185.57, increasing by 3.15% and declining by 3.02% within the last 24 hours and the last 7 days, respectively. The slight pullback has been in the context of the wider crypto market weakness, as traders are observing whether the asset can build on its medium-term upward trend.
Although the recent performance has been poor, Solana is up 13.95% over the past 90 days and up 26.43% over the past 180 days, and this indicates that it has an intact uptrend structure. However, this year's performance has turned marginally negative at -1.94%, suggesting that recent corrections offset earlier gains.
Exchange data shows traders maintaining a pronounced long bias. On Binance, the SOL/USDT long-to-short ratio stands at 4.4615, while OKX reports 3.77. Among top traders, Binance’s ratio reaches 4.6883 by accounts and 1.9703 by positions, reflecting cautious optimism. This indicates ongoing confidence in a potential recovery, though the proximity to critical support introduces measured restraint among leveraged participants.
Liquidation Data and Market Dynamics Signal Possible Rebound
Liquidation statistics suggest that while volatility has increased, selling pressure may be showing signs of exhaustion. In the last hour, the total liquidations were about $194,680, with $78,210 in longs and $116,460 in shorts. Liquidations increased more to $1.37 million over a four-hour period, with short positions being highly concentrated at $485,950.
This short liquidation concentration implies that bearish traders could be overextended, setting conditions for a short-term rebound if price stability develops above $185. The pattern aligns with Solana’s historical tendency to recover swiftly from channel support retests when accompanied by high trading volume.
Across major exchanges, Binance and OKX collectively processed over $8.8 billion in combined spot and futures volumes, confirming consistent trading behavior across the market. The synchronized decline near 3% reinforces the idea that the recent pullback represents a broader reaction rather than isolated selling.
The defense of the $190 zone of Solana is the new step in its direction. The persistent position above this range can trigger a redirection of movements to the target of $240 and $300, whereas a fall under $180 can lead to further consolidation. The response of Solana to this life support will be closely monitored by participants of the market, and this will determine the direction that it takes into the last quarter of the year.