Key Takeaways
Solana is consolidating just below the $200 breakout zone, with minimal resistance above. An Open Interest reset and cooling indicators point to a healthier setup for sustainable upside.
Solana [SOL] is on the brink of a major move!
With price action tightening near a key breakout zone and on-chain data revealing thin resistance above the $200 level, we’re all set for a potential push toward new ATHs.
Adding fuel to the mix, Open Interest recently spiked to a year-to-date peak of $12.01 billion before easing slightly—an encouraging flush of excess leverage.
This is a reset that may indicate the clearing of excess leverage and a healthier foundation for the next leg up.
Is SOL all set for a parabolic surge?
According to crypto analyst Ali Martinez, Solana faces “little to no resistance” once it breaks past $200 — a level that now doubles as both psychological and structural significance.
The data backs this up, with the URPD chart showing a steep decline in token concentration beyond $200.
Source: X
The heaviest clusters sit between $165 and $176 — most selling pressure is already behind.
With minimal historical overhead supply above, a clean break past $200.59 could act as a launchpad for SOL to reclaim, and possibly surpass, its previous all-time high.
Open Interest reset may strengthen SOL’s next move
After surging to a year-to-date high of $12.01 billion on the 23rd of July, Open Interest has since cooled to $10.56 billion at press time.
This flush of excess leverage showed that speculative fluff is being cleared, reducing the risk of a sharp downside liquidation event.
Source: CoinGlass
Despite the dip, OI remains elevated, indicating strong market engagement.
Usually, such resets often lay the groundwork for more sustainable rallies, and with Solana still holding above critical support levels, we’re all set for renewed upward momentum.
Momentum cools, but bullish structure is still intact
Solana’s daily chart showed a healthy pause following its recent breakout, with price consolidating around the $185-$188 range.
The RSI cooled to 60.84 at press time — out of overbought territory but still in bullish control — while the MACD line remained above the signal… with a narrowing gap.
Source: TradingView
Having said that, this is more of a slowdown than a reversal.
Volume has dropped, but that’s typical after sharp runs. Unless SOL breaks below $180, the bullish structure remains intact—particularly if broader sentiment turns risk-on again.
