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Solana ($SOL) faced heavy selling pressure this week as a major whale offloaded $31.59 million worth of tokens, according to on-chain analyst TedPillows. The move sparked concerns over profit-taking in the short term, but charts suggest Solana’s broader trend remains intact if key support levels hold.
Despite the sizeable sell-off, Solana’s price quickly stabilized above the $208 simple moving average (SMA), reinforcing confidence that buyers are defending critical zones as the market heads into Q4.
Weekly Chart Shows Cup-and-Handle Pattern
Analyst CryptoJelleNL highlighted Solana’s weekly cup-and-handle formation, a bullish continuation pattern often seen before extended rallies. With the breakout zone retested around $206, the setup remains constructive as long as buyers sustain momentum above $180.
The $250 resistance level now acts as the final major hurdle for Solana’s year-end rally. A decisive breakout above this mark could unlock targets between $300 and $340, fueling speculation that Solana might lead the next wave of altcoin growth.
However, a failure to overcome $250 could trigger a temporary retreat toward $190–$200, where strong support remains.
Daily Chart Insights: Liquidity Sweep and SMA Retest
On shorter timeframes, Solana has reclaimed the 50-day SMA, a bullish signal after a recent liquidity sweep below that level. Analyst Umair Crypto noted that this reset likely cleared weak hands, providing fresh liquidity for bulls to attempt another push.
Key resistance levels in the near term sit around $229–$232, where supply zones could slow upward momentum. A confirmed daily close above $210 would further strengthen the bullish case. Conversely, slipping below the SMA again could expose Solana to deeper support levels at $185 and $161.
The Relative Strength Index (RSI) has bounced from oversold conditions but remains mid-range, suggesting cautious accumulation rather than overexuberant buying.
At press time, Solana trades at $214, up 3.56% in 24 hours but still down 1.24% week-on-week. Trading activity remains strong, with $7.31 billion in volume exchanged over the last 24 hours, highlighting sustained investor engagement.
Regulatory Climate Shapes Market Sentiment
Beyond technical charts, regulatory developments continue to shape Solana’s outlook. Journalist Eleanor Terrett reported that the U.S. SEC requested issuers of Solana, XRP, Litecoin, Cardano, and Dogecoin ETFs to withdraw their pending 19b-4 filings.
The move comes after the SEC’s September approval of generic listing standards, which streamline ETF approval processes. While the withdrawals may appear negative at first glance, analysts emphasize this shift could actually speed up ETF launches by removing redundant procedures.
For Solana, this regulatory clarity may help offset short-term whale-driven volatility, reinforcing the token’s long-term narrative as one of the leading altcoin ecosystems.
Outlook: Can Solana Break $250 Before Year-End?
With whales cashing out millions, Solana still shows resilience by defending its $208 SMA support. Traders are closely monitoring the $250 level, a technical and psychological barrier that could dictate whether Solana rallies into year-end or stalls for another consolidation phase.
If buyers successfully clear $250, the next leg toward $300–$340 becomes increasingly likely, positioning Solana as one of the strongest-performing large-cap cryptos in Q4 2025.
For now, all eyes remain on whether institutional flows, combined with favorable regulatory shifts, will provide the liquidity needed to fuel the breakout.
