Solana Price Prediction: $210–$204 Support Zone Must Hold for Bulls

In Brief

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SOL nears crucial $204 support, with downside risk toward $190 if bulls fail to hold.
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On-chain activity surges with 396M transactions and 22% fee growth, signaling strong demand.
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$1.7B in SOL staked and ETF optimism reflect rising institutional confidence in Solana’s future.

Solana (SOL) is approaching a crucial support zone between $210 and $204, where bulls must defend to prevent further downside. The current price near $218.30 reflects a 4.64% drop over 24 hours and a 5.65% decline for the week.

Analyst Carl Moon highlighted this range as aligned with both weekly and monthly support, making it a significant decision point. If SOL holds above $210, it could spark a rebound; otherwise, a break below $204 risks a slide toward $190.

Short-term charts show increasing selling pressure following repeated rejections from higher levels, signalling cautious sentiment among traders. Yet, the zone remains structurally intact for now, giving buyers a chance to regain control if volume supports it.

Solana Ecosystem Shows Strong Growth

Despite near-term weakness, on-chain data signals growing strength across Solana’s ecosystem, as highlighted by CryptoBusy. The network processed over 396 million transactions, while fee revenue jumped 22% to $5.96 million, showing sustained demand.

Chains by Fees & Transactions | Source: X

Compared to Ethereum and BNB Chain, Solana remains one of the most actively used blockchains, especially in DeFi and trading activity. October’s rise in perpetual and DEX volumes, along with bullish funding rates, points to growing investor engagement.

Meanwhile, Forward Industries launched a validator with $1.7 billion in SOL staked, signaling deep institutional confidence in Solana’s future. Sharps Technology also added over 2 million SOL to its treasury via Coinbase, reinforcing this corporate trend.

Upcoming spot ETF deadlines from major asset managers further strengthen the long-term outlook, with approval odds estimated near 95%. Additionally, Solana's total value locked has hit $42.4 billion, confirming growing DeFi dominance and ecosystem expansion.