SOL Stronger Bet Than ETH as SOL Holds Key Support, Says Analyst

According to CoinDesk Data , Solana's SOL traded at $232.11 as of 12:30 UTC on Sept. 16, holding relatively firm after a choppy day that saw prices test both the $230 and $238 levels. Analyst's view Altcoin Sherpa, a widely followed trader, said earlier today on X that he sees SOL and BNB as stronger bets than ￰0￱ noted that new funding flows and market structures appear more SOL-oriented, while ETH has already made a substantial run and may need time to ￰1￱ added that majors still move in step with BTC: if BTC weakens, it is unlikely SOL, BNB, or ETH will keep ￰2￱ if bitcoin rallies on positive macro developments, he expects majors to follow — with SOL and BNB likely leading in ￰3￱ said he remains long both SOL and BNB, while his ether position is comparatively ￰4￱ Research's technical analysis According to CoinDesk Research's technical analysis data model, SOL traded within an $8 range during the Sept. 15–16 analysis window, moving between a $238.09 high and a $230.13 ￰5￱ heaviest selling occurred between 12:00 and 17:00 UTC on Sept. 15, when SOL slid nearly $8 from peak to ￰6￱ spiked to 1.5 million units during this decline, marking intense selling pressure.

Afterward, buyers repeatedly defended the $233–$234 area, establishing a short-term “floor.” SOL consolidated with participation from around 650,000 units of volume, suggesting a mix of institutional distribution and retail ￰7￱ the end of the session, price action ￰8￱ 07:00 and 08:00 UTC on Sept. 16, SOL broke out of a tight $235.52–$236.50 band, briefly climbing to $236.90 on a 46,000-unit spike in just a few ￰9￱ surge pushed price toward a $237.50–$238 resistance zone before momentum cooled. Overall, the data shows SOL stabilizing after sharp swings, with a clear support base near $233 and a ceiling forming between $237.50 and $238. Latest 24-hour and one-month chart analysis The latest 24-hour CoinDesk Data chart, ending at 12:30 UTC on Sept. 16, shows SOL at $232.11 after retreating from a $236–$237 intraday ￰10￱ narrowed into the $232–$234 band, reinforcing that area as short-term ￰11￱ one-month chart shows SOL still trending upward overall, though the recent pullback highlights that SOL is testing its support base rather than extending ￰12￱ consolidation suggests the token may need to gather momentum before another attempt higher.

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