- Solana consolidates between $200–$220 after peaking at $234, with buyers defending key support.
- Solana’s DeFi TVL hits $12.26B, while stablecoin liquidity reaches $14.37B, boosting network growth.
- Institutional interest rises as VisionSys plans a $500M SOL stake, supporting long-term ecosystem expansion.
Solana (SOL) recently showed a strong bullish rally with a peak near $234 before facing heavy rejection and pulling back. The price is now consolidating between $200 and $220, with buyers attempting to defend key support as traders monitor the next market move.
Solana Price Consolidates After Recent Rally
According to an observation by BitGuru, SOL recorded a strong upward rally earlier in September, reaching a peak near $234 before losing momentum. The rejection from this level triggered a retracement that pushed the price back toward the $200 zone. Buyers have since stepped in to stabilize the market, forming a support base.
The 4-hour chart data shows that Solana initially experienced smaller gains before entering a stronger bullish phase between September 7 and 13. This move pushed the price above $240, but sellers quickly regained control, leading to a sharp reversal around mid-September. Prices declined into the $200–$205 range, where consolidation began.
Currently, SOL trades between $200 and $220, with repeated rejections around the $220 mark. The volume of trading is lower than the previous rally, which indicates a lower volatility period. Analysts say a breakout above $220 could open the way toward higher levels, while losing $200 might extend the correction further.
Institutional Interest and Market Outlook
Beyond short-term price action, Solana’s ecosystem continues to grow, supported by rising Total Value Locked (TVL) in decentralized finance. According to DeFiLlama, Solana’s TVL reached $12.264 billion with a 6.47% daily gain, showing consistent growth from early 2024 after a prolonged low phase. Stablecoins market capitalization also stands at $14.371 billion, adding network liquidity.
Institutional participation is also increasing. VisionSys announced plans to acquire and stake $500 million worth of SOL using Marinade Finance as its partner. Scott Gralnick, Head of Institutional Growth at Marinade, said the collaboration would ensure security and liquidity for the treasury program.
At the same time, derivatives data from CoinGlass show high liquidation clusters near $213–$219, suggesting a potential short squeeze if prices push higher. According to NekoZ, Solana’s chart shows “a beautiful 100% move off the bottom” with resistance forming near $299. Projections suggest a possible extension toward $425 if momentum continues into 2026.
