Solana has enjoyed a steady uptrend through 2025, but the latest weekly chart shows the market is cooling, currently trading at $223.55. After testing the $237–$240 zone, sellers stepped in, pushing the price down to around $221. This marks a 6.2% drop from last week’s close.
Despite the correction, the broader trend remains intact. Buyers have continued to defend critical support areas, with $200 acting as a psychological barrier.
Below it, the $181–$182 area overlaps both the 50-week and 100-week moving averages, and offers another buffer. If these support areas hold, Solana can try another breakout above $240. A close above it would likely pave the way to $260–$280.
Traders, however, keep their guard up. Breakdown below $200 could attract added pressure, driving down SOL to around the $160 mark, which also coincides with the 200-week moving average.
Also Read: Solana Explosive Accumulation Zone Holds Strong at $230–$240
Indicators of momentum show slower purchases have been made, though long structure continues to be healthy. The Relative Strength Index (RSI) is still at 56.4, having come down from just above 60 last week, and this would not signal a crash but rather consolidation.
The Moving Average Convergence Divergence (MACD) also appears healthy, as at present its blue line still sits above the signal, though the histograph continues to dull, showing weakening strength.
Moving averages remain positive, as SOL remains well above the 20, 50, and 100-week SMAs. Agreement of smaller averages to larger ones shows constructive structure, but closing distance could represent escalating volatility in subsequent weeks.
Technical analysts monitoring these developments believe $200 to be the line for Solana’s future direction.
Other than technical charts, there is one important event that can trigger future growth for SOL.
The world’s largest derivatives marketplace, the Chicago Mercantile Exchange, will launch options on Solana and XRP futures from October 13. It will mark CME’s first inclusion of altcoins except for Bitcoin and Ethereum.
Since their listing this spring, SOL futures have been very popular, and more than 540,000 contracts have been exchanged, representing $22.3 billion in notional value. The month of August set an all-time record by having 9,000 contracts traded in one day.
XRP futures also experienced significant interest, representing $16.2 billion in traded value and nearly $1 billion in open interest in August.
This expansion signifies growing institutional demand for participation beyond the two largest digital currencies. It may be deeper liquidity and superior market support for Solana headed into 2026.
Also Read: Solana Whale Accumulation and Bullish Pattern Spark Rally Hopes
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