Solana News Update: Will Solana Maintain Its Momentum or Face a Downturn? Is the $190 Level Sustainable?

Solana (SOL) is at a pivotal point in its price movement, with recent shifts in the market fueling discussions among experts about the likelihood of an upward breakout. Currently trading near $190.85, Solana’s market cap has remained above $86 billion after briefly falling below $170 in October, as reported by

. Technical analysis paints a mixed picture: the Relative Strength Index (RSI) stands at 66, indicating some bullish strength, but the recent drop beneath crucial support levels has heightened worries about short-term price swings, according to .

The Poain BlockEnergy report points to Solana’s ability to withstand market pressures, crediting its steadiness to strong fundamentals like the HyperSync v3 upgrade—which cut gas fees by 22%—and rising institutional interest in Solana-based assets. Experts estimate a 68% chance for a bullish outcome, with prices possibly climbing to $230–$250 by early 2026 if the $190 support remains intact. Still, this positive outlook is challenged by bearish signals from recent on-chain trends. Solana’s price recently fell below an ascending trendline established since April’s lows, leading to a drop to $155, which aligns with the 61.8% Fibonacci retracement from its $95–$253 surge. This move has increased bearish sentiment, with traders watching for further support at $129 if the decline continues.

Despite these hurdles, Solana’s ecosystem is still growing. Developer engagement is high, with more than 2,500 active contributors on the platform, and the introduction of

ETFs has attracted $421 million in capital, led by Bitwise’s BSOL, according to . K33’s Head of Research, Vetle Lunde, described the ETF launch as “an undeniable success,” highlighting that investor interest surpassed the outflows seen in broader crypto funds. However, this enthusiasm is moderated by the overall market backdrop. The crypto sector has experienced a 3% decrease in (BTC) to $104,000 and a 6% drop in (ETH) to $3,491, largely due to increased selling and shifting risk preferences.

Negative sentiment has been further fueled by macroeconomic developments. The U.S. Federal Reserve’s hawkish approach, including the possibility that the latest rate cut could be the last in 2025, has shaken investor confidence. At the same time, Solana’s price behavior mirrors broader market weakness: after consolidating for two weeks, the token broke above the $185 resistance but soon faced renewed selling, now hovering near $160, according to

.

The next few weeks will be crucial for Solana. If the token can reclaim and maintain a position above the $200 resistance, a short-term surge toward $215 could follow. Conversely, a persistent move below $178.40 would undermine the bullish scenario, potentially pushing prices down to $168 within two months. For now, Solana’s price remains in a consolidation phase, with its future direction tied to macroeconomic developments, network growth, and the broader risk appetite in global markets.