Solana (SOL) hovered around $191.95 on October 25, after briefly testing $195 earlier in the day. The token has shown resilience despite a slight change in market dynamics, with traders closely monitoring its ability to turn the $192–195 zone into new support.
In brief
- Solana is trading around $192 after testing $195. Analysts identify the $188–195 area as the next potential support.
- Fidelity adds Solana to its brokerage platform, increasing institutional exposure to the asset.
- Gemini launches Solana credit card offering up to 4% rewards in SOL and introduces an auto-staking feature.
- A breakout above $195 would open the way towards $200, while a break below $188 could take the price back towards $183.
Solana Strengthens Institutional Reach as Analysts Highlight Support at $188
During the week, Solana benefited from a mix of technical and fundamental signals influencing market sentiment. Analysts highlighted key levels of support, while institutional exposure increased with new initiatives from Fidelity and Gemini.
Saturday, analyst Ali Martinez identified $188 as major support levelaccording to Glassnode's Realized Price Distribution chart, which shows where the largest volumes of SOL changed hands. We observe a dense cluster of activity around this threshold.
These zones often act as price floors: when an asset remains above it, selling pressure eases. On the other hand, a downward breakout could trigger a new wave of offers. This level therefore remains decisive for the continuation of Solana's upward trend.
This week, Fidelity added support for Solana on its American brokerage platformexpanding investor access beyond Bitcoin (BTC), Ether (ETH), and Litecoin (LTC). Even if this addition does not directly impact daily price variations, it strengthens Solana's visibility and broadens its base of potential investors.
Gemini launches Solana credit card and auto-staking option
Earlier in the week, Gemini launched a special Solana edition of its Gemini credit cardinitially introduced in 2023. The new design allows cardholders to earn rewards in SOL: up to 4% back on fuel, electric vehicle charging and rideshare purchases, 3% on dining, 2% on groceries and 1% on all other expenses.
Some partner brands offer up to 10% off in rewards. The card has no annual fees or foreign transaction fees, and there are no fees charged to receive crypto rewards. Gemini has also added an option for users to automatically stake their rewards in Solana, although staking returns remain variable and not guaranteed.
Buyers defend $189 as SOL holds above the 200-day moving average
At the time of writing, Solana is trading around $195, with a market dominance of 2.79%. From a technical perspective, data shows that SOL has gained around 1.9% over the past 24 hours.
Market data shows that:
- Solana gained around $5.24, with buyers defending $189.25 while sellers remain active around $195.
- Key support levels lie at $189.25 and $186.
- Main resistance is seen near $195.49, with an intraday pivot around $192.50.
- SOL remains above its 200-day simple moving average, a sign of a strong uptrend.
- The token has recorded 16 positive days out of the last 30, representing a bullish streak of 53%.
- Trading volume peaked at 09:00 UTC, jumping 47% above average to 786,000.
- SOL then fell slightly from $193.73 to $192.53, confirming $195 as the short-term high.
Analysts believe that a sustainable close above $195 could open the way towards $200–208. Conversely, a break below $192.50 could lead to a return towards $189.25, or even $186. Finally, a break of the $189–188 support could shift the focus towards $183, seen as the next downside target.
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