Solana News Today: Solana Drops Below $200: Robust Technology Faces Downward Pressure

Solana (SOL) Slides Again – Drop Below $200 Signals Possible Further Losses

Solana’s value has dipped under the crucial $200 mark, sparking worries about a more significant pullback for the digital asset. After briefly reaching a 52-week peak of $253 in April 2025, SOL has repeatedly struggled to hold above $200, losing upward momentum at this level. Market experts and technical analysts caution that if the price falls under $192, it could lead to additional declines, with $188 and $180 highlighted as important support zones, according to a

.

The latest downturn comes after several unsuccessful attempts to reclaim the $200 resistance, with Solana now trading at $197, just below this key level. On the hourly timeframe, the price has slipped beneath an ascending trend line that previously offered support at $198, and the 100-hour simple moving average is now acting as resistance, according to TradingView. Bearish momentum is also reflected in the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD), with the RSI under 50 and the MACD deepening in negative territory, the TradingView report notes.

Despite these technical challenges, Solana’s underlying fundamentals remain strong. Its proof-of-history consensus protocol allows for high throughput and minimal transaction costs, handling up to 65,000 transactions per second at peak capacity—far exceeding Ethereum’s 20 tps, as reported by

. This performance advantage has helped become a major force in decentralized finance (DeFi), though it still lags behind in total value locked (TVL), with $11 billion compared to Ethereum’s $83 billion, according to the Motley Fool. Analysts also point out that Solana’s stability during recent market turbulence demonstrated its durability, as it sustained low fees and high throughput even as transaction volumes surged, the Motley Fool article observed.

Investor sentiment is currently divided. Some see the present price as a chance to buy, especially with hopes for a spot Solana ETF approval, while others urge caution. Multiple fund managers have submitted Solana ETF applications, and one has already received preliminary approval from the Securities and Exchange Commission, the Motley Fool reports. However, the overall bearish mood—intensified by an 18% drop in the share of Solana’s supply in profit—has increased selling, according to

. There has also been a surge in exchange deposits, with 1.5 million (worth $300 million) transferred to exchanges over the last 10 days, indicating a bearish stance, the Yahoo Finance article notes.

Technical experts foresee a crucial short-term test for Solana. If the price can close decisively above $200, it may reverse the bearish trend and target $213, but a drop below $192 could speed up losses toward $183 or $175, according to

. On the daily chart, Solana is confined within a downward-sloping parallel channel, with support near $185 and resistance at $250, the CCN analysis notes. Failing to break out of this range could mark the end of the current bullish phase, with long-term forecasts suggesting a possible decline to $59–$69 if the correction completes, the CCN article warns.

Short-term outlooks remain cautiously positive, with some analysts predicting a move to the $204–$210 range by mid-November, provided trading volume grows and the RSI strengthens, according to a

. However, these projections depend on the broader market remaining stable and no new regulatory challenges arising.