TLDR:
- Over $17M in SOL short positions were liquidated as the Solana price crossed $220, highest level in 8 months.
- Onchain perpetuals on Solana led centralized exchanges in liquidations, showing stronger activity among decentralized traders.
- Analyst projections point to $250 as the next resistance level, with $259 identified as the upper resistance zone.
- Solana’s support zone remains between $160 and $180 if price faces rejection at higher resistance levels.
Solana’s latest rally has pushed the token to levels not seen since early 2024. The price jumped past $220, sparking a wave of liquidations across short positions. Traders on decentralized platforms led the surge as onchain perpetual contracts outpaced centralized exchanges.
Analysts are now pointing toward higher resistance zones while watching for possible pullbacks. The momentum comes during a period of renewed activity and stronger trading volumes across crypto markets.
Solana Price Rises as Short Liquidations Mount
According to SolanaFloor, more than $17 million worth of short positions were liquidated when Solana’s price cleared the $220 level. This move marked the first time in eight months that the token crossed that threshold, bringing renewed attention to its performance.
🚨JUST IN: Over $17M in $SOL shorts were liquidated as price broke above $220 for the first time in 8 months. Onchain perps on @Solana continue to lead centralized exchanges in liquidations. pic.twitter.com/1SGrWslVNE
— SolanaFloor (@SolanaFloor) September 10, 2025
Data shows decentralized perpetual contracts on Solana drove much of this activity, overtaking centralized platforms in liquidation size. The shift highlights growing demand for onchain trading venues as traders pursue faster execution and lower costs.
Altcoin Sherpa, a crypto analyst active on social media, stated that he expects the token to grind higher toward $250 in the coming weeks. He noted consistent buying pressure could continue supporting price gains, especially as new liquidity enters the market.
Per CoinGecko, Solana was trading at $224.23 at the time of writing, with a 24-hour trading volume of more than $10.1 billion. The token has risen 2.92 percent in the past day and over 7 percent in the past week.
Analysts Target $250 While Support Holds at Lower Levels
The chart shared by Altcoin Sherpa shows SOL approaching a resistance zone near $250. This area is considered critical for continuation, with a secondary resistance around $259.90 that could cap further advances in the short term.
Support remains in the $160 to $180 range, where Solana has previously found stability during consolidation phases. Traders are monitoring this zone as a potential entry point if the price pulls back after testing higher levels.
I still strongly believe $SOL is going to $250 or something in the next few weeks/months. SOL DAT coming in, probably lots more buying going to happen and think this slow grinds up. I’m in it and will keep a position in this one for a bit I think pic.twitter.com/7bR6FEDdYV
— Altcoin Sherpa (@AltcoinSherpa) September 10, 2025
Volume analysis indicates stronger buying pressure whenever price clears resistance zones, with spikes confirming market interest in upward moves. The steady climb from 2023 lows continues to frame the broader trend as bullish.
Market watchers emphasize that a clear break above $250 would open paths to higher targets.
However, a failed test could bring a retreat to support zones before any renewed advance. This aligns with the ongoing narrative of a slow, steady grind toward higher price levels.
