Solana Eyes $226–$229 Breakout Holding Support at $218

Key Insights:

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  Solana’s price holds at $218, signaling possible short-term base formation for upward movement.
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  Institutional interest in Solana rises with $4.15B in SOL holdings, bolstering long-term support.
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  Solana’s ecosystem expands with TVL surpassing $12B, proving strong fundamentals despite recent price drop.

Solana (SOL) is showing resilience after a short-term decline, holding steady near key support levels. Despite a 3.67% drop in the last 24 hours, traders are watching closely as buying momentum builds around the $216.5–$219.3 range.

Buyers Defend Key Support Zone

According to trader Degen Sing, Solana is trying to stabilize around $218.8 after a clean drop, with buyers actively defending the support area near $216.5–$219.3. The setup shows a possible short-term base formation, suggesting the asset may be preparing for another upward move.

The 15‑minute Stochastic indicator shows an oversold condition, while the RSI is neutral but turning upward. If SOL manages to reclaim $222, a potential breakout toward $226–$229 could occur. However, a drop below $216.5 might expose lower levels, according to analysts.

At the time of writing, Solana was priced at $210.29, reflecting a 3.67% decline in the past 24 hours. Its 24‑hour trading volume stands at $8.31 billion, showing active participation from traders.

Institutional Buying Fuels Confidence

However, Market interest in Solana continues to grow as institutional players expand their exposure. Treasury companies have already accumulated $4.15 billion worth of SOL, adding that VisionSys AI recently partnered with Marinade Finance to launch a $2 billion digital treasury.

The partnership marks one of the largest treasury developments on the Solana network, with the first $500 million expected to be staked within six months. Such activity may provide long‑term buying support for SOL, as corporate treasuries and staking programs expand across the ecosystem.

Strong Fundamentals and Network Growth

Beyond short‑term price action, Solana’s broader ecosystem continues to expand. Commenting on this, crypto_rand noted that while many chase trending tokens, coins like $SOL are the real deal, noting the blockchain’s growing total value locked (TVL), which recently surpassed $12 billion.

Despite the current decline, Solana maintains a strong on‑chain foundation and active developer base. As market participants await updates on the ETF approval, price consolidation near $218 suggests cautious optimism.