According to Coindesk Data, Solana’s sun traded at $ 232.11 per. 12:30 ADC on September 16 and had relatively fixed after a chopped day, with prices testing both $ 230 and $ 238 levels.
Analyste sight
Altcoin Sherpa, a broadly followed trader, said earlier today at X that he sees sun and BNB as stronger efforts than ETH. He noted that new financing flows and market structures appear more solar -oriented, while ETH has already made a significant race and may need time to consolidate.
He added that majors are still moving in steps with BTC: If BTC weakens, it is unlikely that sun, BNB or ETH will continue to rise. But if Bitcoin rallies on positive macro developments, he expects Majors to follow – with Sol and BNB, which is likely to lead in performance. Sherpa said he remains long both sun and BNB, while his ether position is relatively small.
Coindesk Research’s technical analysis
According to Coindesk Research’s Technical Analysis Data Model, Sol traded within a $ 8 interval within 15 –16. September, moving between a $ 238.09 high and a $ 230.13 low.
The heaviest sale happened between 12:00 and 17:00 UTC on September 15, when Sol slid almost $ 8 from top to trough. Volume spiked to 1.5 million units during this fall, marking intense sales pressure.
Afterwards, buyers repeatedly defended the area $ 233- $ 234 and established a short -lived “floor.” Sol consolidated with participation from about 650,000 volume units, suggesting a mix of institutional distribution and retail.
Mot the end of the session was improved. Between 07:00 and 08:00 on September 16, sun broke out of a tight $ 235.52– $ 236.50 band, shortly climbing $ 236.90 at a 46,000 unit tip in just minutes. This wave pushed the price against a $ 237.50- $ 238 resistance zone before the momentum is cooled.
Generally, the data shows sun -stabilization after sharp swings, with a clear support base near $ 233 and a ceiling formed between $ 237.50 and $ 238.
Latest 24-hour and one-month card analysis
The latest 24-hour Coindesk data card, which ends at 1 p.m. 12:30 ADC on September 16th, Sol will show $ 232.11 after withdrew from a $ 236- $ 237 intraday zone. Trade narrowed into the $ 232- $ 234 band, which reinforces this area as short-term support.
A month’s diagram shows that sun is still trending upwards in general, though the recent withdrawals highlight that Sol is testing its support base instead of expanding gains. The consolidation suggests that the token may need to gather speed before another attempt higher.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance with Our standards. For more information, see Coindesk’s full AI policy.
