Why Solana’s (SOL) Rally Could Fade Fast If Bulls Fail to Defend $215
Solana price surged past $216, but on-chain data shows rising sell pressure. Exchange balances and profit signals suggest the rally may be tested unless a key level is broken.
Solana’s price surged to around $216 at press time, marking a 6% gain over the past 24 hours. While the three-month trend remains bullish, this latest move may soon face resistance.
Two on-chain clues, exchange balances and SOPR, point to profit-taking. If buyers can force a firm break above the next key ceiling, momentum can continue; if not, a pullback is likely.
Exchange Balances Just Made A Big Jump
Coins sitting on exchanges often line up with sell pressure. On August 22, total SOL on exchanges was 29,939,206 SOL. By August 27, it climbed to 31,877,413 SOL; an increase of 1,938,207 SOL (+6.47%) in five days.
At $216 per SOL, that adds about $418.7 million worth of potential “sell” supply.

This is the second-highest exchange balance of the month, only 1.5% below August’s one-month peak of 32,357,608 SOL. We also saw a smaller rise from 29,939,206 to 30,584,558 SOL between August 22 and 24. Following this, the Solana price slipped from $205 to $187.
Today’s jump is bigger, so the risk of another “sell-into-strength” phase is real.
For token TA and market updates: Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter .
SOPR Confirms Profit Taking Is Active
SOPR (Spent Output Profit Ratio) tells us if the average coin moving on-chain is being sold at a profit (>1) or loss (<1).
On August 27, SOL SOPR was at 1.0544, a three-month high. This means the coins were sold at a profit.

The last time SOPR hit around 1.04 on July 22, the SOL price cooled from roughly $205 to $158 (about –22.9%). With SOPR now even higher, it backs up what exchange balances are already hinting at: sellers are active and on the move.
Key Solana Price Levels To Watch On The Chart
The Solana price has pushed through $200 and tested the same overhead area that rejected rallies several times this month.
Solana needs a clean daily close above the next ceiling to show buyers are truly in control, which currently sits above $215. If it can break and hold above that level, a run toward $223 and then $247 comes into view.

It’s important to note that a true break above the $215 level requires a full candle close above the zone—not just an intraday breakout. The current move, with SOL trading around $216, doesn’t yet confirm a sustained bullish breakout.
If Solana fails to clear and hold above this resistance, a dip toward the $204–$200 range remains likely. A decisive drop below $185 would further weaken the short-term outlook.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
XRP News Today: Gumi Bets Big on XRP for Blockchain Future, Diversifying Beyond Bitcoin
- Japanese gaming firm Gumi allocates ¥2.5B to buy XRP (Ripple's token) for blockchain strategy, complementing prior ¥1B Bitcoin investment. - The move aligns with SBI Holdings (major shareholder) and Ripple's joint blockchain payment initiatives, including RLUSD stablecoin deployment in Japan. - XRP's utility in cross-border remittances and liquidity solutions drives institutional adoption, with Gumi reporting holdings quarterly for transparency. - Despite short-term XRP price volatility, Gumi emphasizes

The Trump Family's Crypto Bet: Strategic Implications of Eric Trump's Involvement in Metaplanet
- Eric Trump joins Metaplanet as strategic advisor, signaling institutional Bitcoin adoption amid Japan's regulatory reforms. - Japan's 2025 FIEA reforms and tax cuts (20% capital gains) position Bitcoin as a regulated reserve asset, tripling crypto AUM in two years. - Metaplanet's 210,000 BTC target by 2027 highlights Bitcoin's role in hedging inflation, with 7-12% yield outperforming traditional assets. - U.S. regulatory clarity (GENIUS Act, CLARITY Act) and global policy convergence reduce jurisdictiona

Pudgy Party: A Blueprint for Mainstream Web3 Gaming Adoption
- Pudgy Penguins and Mythical Games' Pudgy Party redefines Web3 gaming by simplifying blockchain onboarding via custodial wallets, targeting 100M users. - The game's dual-tier NFT model (NAT/LE) merges meme culture with functional in-game tools, reducing speculative behavior while enhancing accessibility. - Community-driven features like Soulbound Tokens and viral events foster engagement, bridging crypto-native and traditional audiences through shared cultural identity. - PENGU token's 216% surge and $13.

Strategic Diversification in a Volatile Crypto Market: The Rise of Tokenized Bitcoin Mining and Bitfrac’s Presale Model
- Tokenized Bitcoin mining offers passive income and risk mitigation, blending physical infrastructure with blockchain scalability. - Bitfrac's $5.94M presale model enables fractional mining ownership via BFT tokens, distributing profits through smart contracts. - Solana's high-speed network (65k TPS) and institutional adoption support tokenized mining's growth, with RWA tokenization expanding from $5B to $24B. - The $13.5B Bitcoin mining market's 45% renewable energy adoption enhances ESG appeal, position

Trending news
MoreCrypto prices
More








