Solana’s price surged to around $216 at press time, marking a 6% gain over the past 24 hours. While the three-month trend remains bullish, this latest move may soon face resistance.
Two on-chain clues, exchange balances and SOPR, point to profit-taking. If buyers can force a firm break above the next key ceiling, momentum can continue; if not, a pullback is likely.
Exchange Balances Just Made A Big Jump
Coins sitting on exchanges often line up with sell pressure. On August 22, total SOL on exchanges was 29,939,206 SOL. By August 27, it climbed to 31,877,413 SOL; an increase of 1,938,207 SOL (+6.47%) in five days.
At $216 per SOL, that adds about $418.7 million worth of potential “sell” supply.
This is the second-highest exchange balance of the month, only 1.5% below August’s one-month peak of 32,357,608 SOL. We also saw a smaller rise from 29,939,206 to 30,584,558 SOL between August 22 and 24. Following this, the Solana price slipped from $205 to $187.
Today’s jump is bigger, so the risk of another “sell-into-strength” phase is real.
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SOPR Confirms Profit Taking Is Active
SOPR (Spent Output Profit Ratio) tells us if the average coin moving on-chain is being sold at a profit (>1) or loss (<1).
On August 27, SOL SOPR was at 1.0544, a three-month high. This means the coins were sold at a profit.
The last time SOPR hit around 1.04 on July 22, the SOL price cooled from roughly $205 to $158 (about –22.9%). With SOPR now even higher, it backs up what exchange balances are already hinting at: sellers are active and on the move.
Key Solana Price Levels To Watch On The Chart
The Solana price has pushed through $200 and tested the same overhead area that rejected rallies several times this month.
Solana needs a clean daily close above the next ceiling to show buyers are truly in control, which currently sits above $215. If it can break and hold above that level, a run toward $223 and then $247 comes into view.
It’s important to note that a true break above the $215 level requires a full candle close above the zone—not just an intraday breakout. The current move, with SOL trading around $216, doesn’t yet confirm a sustained bullish breakout.
If Solana fails to clear and hold above this resistance, a dip toward the $204–$200 range remains likely. A decisive drop below $185 would further weaken the short-term outlook.
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