Solana Rally Paused? Traders Eye $239 as Must-Break Level

TL;DR

• $239 acts as a serious resistance, with heavy holder focus seen between $230 and $240 ranges.
• Solana trades in an ascending channel; failure to interrupt $239 may set off a correction to $220–$200.
• On-chain information reveals robust whale backing close to $232, however profit-taking strain is constructing quick.

Key Resistance Close to $239

Solana (SOL) was buying and selling at $234 at press time, with a 24-hour buying and selling quantity of $8 billion. The asset has eased barely up to now day however stays 6% larger over the week. Market focus is now on the $239 space, the place analysts see a transparent resistance barrier.

Analyst Ali Martinez stated,

$239 is now an important resistance wall forward of Solana $SOL! pic.twitter.com/0TI0G5XcW0

— Ali (@ali_charts) September 17, 2025

Information from the UTXO Realized Worth Distribution (URPD) chart reveals a heavy cluster of holdings between $230 and $240, with a focus at $239. Such ranges usually act as provide zones, as many holders who purchased in that vary could look to promote as soon as costs revisit it.

Buying and selling Construction and Channel Outlook

IncomeSharks shared a chart displaying Solana buying and selling inside an ascending channel that has guided the value since early summer season. The channel has produced steadily larger highs and better lows, however the dotted line drawn at $239–$240 stays the important thing degree to look at.

IncomeSharks commented, “A detailed above the dotted line and I’ll name it invalidated,” referring to the attainable corrective path marked on the chart. That situation suggests value may slip again towards $220 and even $200 earlier than discovering help. Each areas line up with mid- and lower-channel boundaries and would protect the overall trend.

As well as, Mags noted similarities between Solana and Binance Coin (BNB). The analyst described the cycle as pump, re-accumulation, after which a transfer to new highs. BNB has already damaged right into a recent all-time excessive, whereas Solana is lagging.

Charts shared by Mags present Solana’s robust rally in 2023–2024, adopted by a re-accumulation part. Worth motion now suggests the token may very well be getting ready for one more leg larger. “Chances are high Solana catches up quickly,” Mags wrote, pointing to the structural resemblance to BNB.

Revenue Taking and Massive Holders

Greg Miller stated,

$SOL holders have been locking in huge income as value pushes close to $250.

Chart reveals realized positive factors averaging $1B/day in mid Sept, clear indicators of heavy revenue taking into the ETF & treasury hype rally.

Brief time period promoting strain is actual, however the greater pattern for Solana nonetheless… pic.twitter.com/pOvW4t5acQ

— Greg Miller (@greg_miller05) September 17, 2025

Realized positive factors averaged about $1 billion per day in mid-September, pointing to heavy profit-taking in the course of the latest rally tied to ETF and treasury headlines.

In the meantime, on-chain information from Lookonchain shows six strategic entities every holding multiple million SOL. Ahead Industries has the most important place with 6.82 million SOL, valued at $1.58 billion, at a mean value of $232. These holdings present robust backing close to present costs, although in addition they add to potential provide if profit-taking continues.