Solana’s $200 test – Traders, can SOL hold on, if so, what next?

Key Points

1. Solana (SOL) surged 7.88% on July 21, closing at $195, its highest daily close, unlocking $538 million in realized gains.

2. SOL’s price action is closely tied to staking flows, with a 23% weekly move leading to an $800 million increase in Total Value Locked (TVL), reaching $9.95 billion.

3. The SOL/ETH pair rose nearly 12% in under 48 hours as ETH weakened, indicating capital rotation into SOL.

4. Solana cleared a key supply zone at $185, with new address count spiking 26%, signaling fresh demand and FOMO (fear of missing out).

5. If buyers maintain momentum, SOL could break the $200 resistance level cleanly.