Solana Could See Near-Term Selling Pressure Despite Treasury Demand, $220 Support Key for Rally Above $250

• Major selling pressure: ~ $1B realized profits daily as SOL approached $250.

• Unrealized-profit metric (SOPR) rose above 1.06 — levels tied to prior local tops.

• Treasure demand: corporate treasuries reported holding ~15 million SOL, a material bullish supply-side factor.

Solana price stalls near $250 as SOPR and $1B daily selling pressure increase; treasury holdings and ETF expectations may support a breakout — read analysis.

What caused Solana to stall at $250?

Solana price stalled at $250 primarily because rising unrealized profits and heavy profit-taking increased selling pressure, with on-chain metrics (SOPR > 1.06) and daily realized gains near $1 billion signaling short-term distribution. These factors triggered rejection ahead of key macro events.

How significant is the unrealized-profit spike for SOL?

Glassnode-derived Solana SOPR readings above 1.06 indicate that holders were broadly in profit, a condition that historically precedes local tops. Elevated SOPR suggests profit-taking risk and compresses upside until net selling subsides or new demand absorbs supply.

How much selling pressure has appeared on-chain?

On-chain realized-profit metrics show that holders locked gains at a daily average near $1 billion during mid-September, reflecting concentrated selling as the rally approached $250.

That level of daily realized profit is notable for an altcoin and magnifies short-term downside risk absent fresh demand.

What role do treasuries and ETF narratives play?

Corporate treasury disclosures and on-chain trackers highlighted treasury firms holding roughly 15 million SOL. Combined with ETF approval expectations and potential staking demand, this narrative can provide structural buy-side support that might reprice SOL higher into Q4 if macro conditions remain stable.

When can bulls reclaim momentum above $250?

Bulls are likely to regain momentum if $220 — the prior resistance zone — is defended as support and if selling pressure from realized profits cools. Sustained on-chain accumulation, treasury buying, or positive ETF-related updates would increase the probability of a successful retest above $250.

Frequently Asked Questions

Is the Solana rally over after the $250 rejection?

The rejection near $250 reflects short-term profit-taking but is not definitive proof the rally is over. Key on-chain signs to watch include a drop in SOPR, reduced daily realized profits, and renewed accumulation by treasuries or large holders.

Can treasuries and ETFs offset selling pressure?

Yes. Large treasury holdings (~15M SOL) and prospective ETF-linked demand can offset selling if inflows or locked staking increase. Market response depends on execution speed and macro liquidity conditions.

Key Takeaways

• Profit-taking drove the pullback: SOPR > 1.06 and ~$1B daily realized profits signaled distribution.
• Treasuries are a bullish counterweight: ~15M SOL held by corporate treasuries could support mid-term repricing.
• Critical levels to watch: $220 as key support; a hold there increases odds of renewed upside above $250.

Conclusion

Solana price action shows classic distribution near a major resistance: elevated SOPR and large realized-profit days explain the $250 rejection, while significant treasury holdings and ETF-related demand present a credible bullish offset. Monitor on-chain profit metrics and $220 support for signs of a sustained breakout or deeper correction. COINOTAG will continue tracking developments.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.