Solana Drops 7%, But This Key Support Could Spark a Rally

TL;DR SOL drops 7% after hitting key resistance; support at $223 now in focus for short-term ￰0￱ bottom breakout on SOL/BTC may retest support before trend continuation ￰1￱ Capital sees growing interest in Solana as ETF speculation and adoption ￰2￱ at Resistance Sends SOL Lower Solana (SOL) is trading around $223, after falling more than 7% in the last 24 ￰3￱ the past week, it has declined by nearly 5%. The move down comes after the price tested the $250 resistance level, which is the same zone that capped it before the previous all-time high. Meanwhile, the weekly chart shows that this level continues to act as strong ￰4￱ the rejection, the longer-term trend remains ￰5￱ Lennaert Snyder commented: $SOL in a ￰6￱ perfectly tested key $253 resistance, the last stop before a new ￰7￱ market dumped, but @solana maintains its strong ￰8￱ long as we’re trading above $186 weekly support, the uptrend remains ￰9￱ retests are perfect for ￰10￱ — Lennaert Snyder (@LennaertSnyder) September 22, 2025 This area had served as resistance before and now holds as the key support in the current market ￰11￱ the 4-hour chart, this zone has acted as a base during earlier consolidation ￰12￱ this level holds, it could open the way for a short move toward $240–$245.

Market watcher BitGuru noted : “If this level holds, we may see another bounce toward $240–$245, but a breakdown could send it lower toward $220.” Price action remains uncertain at this ￰13￱ it breaks, the next key support sits near $220, an area where buyers previously stepped in during sideways movement.) September 22, 2025 In addition, as reported by CryptoPotato , Pantera Capital said that Solana is reaching a major point in its adoption ￰14￱ firm pointed to rising attention from fintech firms, developers, and retail ￰15￱ also mentioned that institutional exposure to SOL remains low relative to other large-cap ￰16￱ suggested that if a Solana-based ETF is approved, it could lead to stronger institutional ￰17￱ the timeline is uncertain, the firm described Solana as being well-positioned in its ecosystem and infrastructure.