Article Details

$200 Solana Pullback ‘Unavoidable,’ Says Trader as $868M Moves Off-Chain

TL;DR

• Solana slipped from $250 to $215 after reaching its highest level in months, with analysts warning that a pullback toward $200 is increasingly likely.
• A whale transfer exceeding $868 million in SOL hit major exchanges, fueling speculation over near-term selling pressure but also setting up potential for accumulation.
• Despite volatility, institutional players are expanding their Solana reserves, reinforcing long-term bullish potential for the token.
  

  ---

Solana’s recent rally to $250, its strongest level in nearly eight months, has cooled after sellers stepped in, pulling the price back toward $215. Over the past month, SOL gained 25%, outpacing most altcoins, thanks in part to renewed institutional attention. Yet some traders warn that a healthy retracement is still ahead before the market can mount another push higher.

Analyst Projects Solana Price Path Toward $200 Before Recovery

Crypto analyst GreenyTrades noted that SOL is trading against a stubborn resistance cluster between $240 and $260, an area that has repeatedly capped gains in prior cycles. The rejection at this zone triggered a swift 16% slide, leaving $200 as the most likely support to be tested next.

Still, the expert stressed that the broader market structure remains intact. Even if Solana dips under $200 temporarily, its higher-low pattern would preserve bullish momentum and could act as the springboard for a rebound to $300 in the next leg. For traders, this implies that short-term caution is warranted, but the long-term framework continues to favor an upward trajectory.

The $180 to $200 range now stands as the key battleground where bulls must defend support. A clean break above $260 on the other hand could unlock far greater upside potential, marking the first decisive step toward a new cycle high.

Whale Activity And Funding Rates Signal Market Repositioning

In parallel, blockchain data revealed that whales transferred more than $868 million worth of SOL into Binance and Coinbase Institutional wallets within hours. Such movements often precede waves of selling, but they can also represent tactical repositioning that ultimately fuels accumulation once selling pressure eases. Historically, Solana has staged sharp recoveries after similar inflows, hinting that these transfers might set the stage for future gains.

Funding rates for perpetual futures contracts also provide a mixed picture. While the rate briefly turned negative during the pullback, it quickly recovered to nearly 8%, suggesting that buyers remain engaged and willing to pay a premium for long exposure. Institutional players appear to be absorbing significant supply, softening downside volatility and reinforcing SOL’s resilience.

With more than 17 million SOL—valued at over $4.3 billion—now held in strategic reserves across multiple firms, Solana’s long-term base continues to strengthen.