Solana (SOL) Price: The $210 Battle – Why This Level Could Make or Break the Rally
TLDR
Solana price recovered from $194 to trade above $210, up 30% for the month but struggling to break $212 resistance
Net Unrealized Profit/Loss climbed to 0.30, reaching levels that triggered 4-8% corrections in August
Long-term holders are reducing positions with Hodler Net Position Change dropping below -1.5 million SOL
Technical analysis shows SOL facing heavy resistance at $212 with support levels at $200 and $194
Money Flow Index divergence suggests weakening buyer interest despite the recent price bounce
Solana price has staged a recovery from the $194 zone, climbing above the $200 mark in recent trading sessions. The cryptocurrency now trades around $210, representing a monthly gain of nearly 30%.
The recovery has pushed SOL above key technical levels including the 100-hourly simple moving average. Price action shows the token managed to break above the 50% Fibonacci retracement level from the recent decline.
However, bulls are encountering strong resistance near the $212 level. This resistance zone has proven difficult to break, with the price pulling back below $210 after testing higher levels.
Technical analysis reveals a break below a connecting bullish trend line with support at $207. The hourly chart shows SOL struggling to maintain momentum above this broken trend line support.
Profit-Taking Signals Build
Market metrics are showing warning signs of increased profit-taking activity. The Net Unrealized Profit/Loss metric has climbed from 0.26 to 0.30 over recent trading sessions.
Source: Glassnode
This NUPL reading matches levels that preceded corrections in August. When NUPL reached similar heights on August 28, SOL dropped from $214 to $205, a decline of 4.2%.
An earlier peak on August 13 saw NUPL hit 0.30, followed by an 8% price correction. The current reading suggests traders are sitting on profits and may be ready to take gains.
The pattern of NUPL peaks coinciding with price corrections has been consistent. Each time the metric approaches these levels, selling pressure has emerged.
Long-term holder behavior supports the profit-taking narrative. The Hodler Net Position Change has dropped sharply into negative territory, falling below -1.5 million SOL.
Technical Resistance Levels
The immediate resistance sits at $212, which aligns with the 76.4% Fibonacci retracement level. A break above this zone could target the main resistance at $218.
Source: TradingView
Beyond $218, the next key resistance levels are $232 and potentially $245. These levels represent the upper bounds of the current trading range.
On the downside, initial support lies at $204, followed by the critical $200 level. The 100-hourly moving average currently provides support around these levels.
A breakdown below $200 would target the $195 support zone. Further selling could push the price toward $184 in a worst-case scenario.
The Money Flow Index shows diverging signals despite the recent bounce. While MFI initially climbed with the price recovery, it has since trended lower.
This divergence indicates weaker buying interest on dips. New capital flows are not supporting the higher prices as aggressively as in previous rallies.
The technical setup suggests SOL needs to clear the $212-$215 range to extend the uptrend. Without this breakout, the token remains vulnerable to further pullbacks.
Current trading volume and momentum indicators show mixed signals. The hourly MACD is losing pace in bullish territory, while the RSI has moved below the 50 level.
These indicators align with the on-chain metrics suggesting caution. The combination of profit-taking signals and technical resistance creates headwinds for further gains.
SOL currently trades above $204 with immediate resistance at $212 and key support at $200.
The post Solana (SOL) Price: The $210 Battle – Why This Level Could Make or Break the Rally appeared first on CoinCentral.
Filed under: News - @ September 4, 2025 8:30 am