Solana Nears $250 Milestone—But Watch Out For That 6-Month High Selling Wall

Solana's charging toward $250—just as traders hit the sell button at six-month highs.

The Momentum Play

SOL bulls keep pushing—ignoring resistance, eyeing the next leg up. The climb’s been steep, relentless. No pullbacks, no apologies.

The Reality Check

But around $250? That’s where historic profit-taking kicks in. Traders who bought the dip six months ago are cashing out. Classic crypto psychology—greed meets fear at a key technical level.

What’s Next?

If SOL smashes through? Sky’s the limit. If it stalls? Get ready for a choppy consolidation—or worse, a sharp correction. Because in crypto, what goes up must occasionally come down—especially when Wall Street’s algo-traders decide it’s payday.

Just remember: in a market where ‘fundamentals’ often mean ‘whatever pumps next,’ technical levels sometimes matter more than white papers. Typical finance—overcomplicating the art of buying low and selling high.

Solana Crucial Holders Sell

Data from the HODLer net position change shows long-term holders have started selling their assets. These investors play an outsized role in influencing Solana’s trajectory, as their accumulation often supports recovery while their selling can trigger declines.

At present, long-term holder selling is at a six-month high, reflecting waning confidence. This could pressure Solana’s price in the short term. This WOULD prevent it from securing $250 and reducing momentum if the selling trend continues among these influential market participants.

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On the broader front, Solana’s NUPL indicator suggests the cryptocurrency has yet to reach a saturation point. Historically, a climb toward the Belief-Denial threshold at 0.5 often marks a reversal, leading to extended corrections in the following weeks.

This leaves solana with room for additional short-term gains before a major cooling-off period sets in.

SOL Price Nears Critical Level

Currently, Solana trades at $235, sitting just 6% below the $250 milestone. Over the weekend, SOL attempted to reach this target but failed. However, it has managed to hold steady above the $232 support level.

If bullish momentum continues, Solana could rebound from $232 and test resistance at $242. A successful breach, particularly if long-term holders slow their selling. This could push SOL toward reclaiming $250 in the NEAR term.

However, if selling pressure from long-term holders accelerates, Solana may struggle to defend $232 as support. This scenario could result in a correction toward $221, undermining bullish momentum and invalidating near-term upward projections.