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Solana fights for $200: Is the big boom coming in the crypto market?
Bitcoin (BTC) recovers above $111,000 as positive trends continue in the crypto market. Find out more about the current developments.
Solana fights for $200: Is the big boom coming in the crypto market?
On October 16, 2025, the Solana (SOL) cryptocurrency is trading above $195, showing a positive trend in the context of a recovering market. FXStreet reports, that major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) are also seeing an upward movement. Bitcoin has recovered above $111,000 after briefly falling below $110,000, while Ethereum is attempting to break the $4,100 resistance level.
A crucial point is being reached for Solana as it attempts to break out above the $200 level after testing support at around $186. The immediate support level for Solana is currently $195, which is crucial to maintain bullish market sentiment.
Active addresses and market interest
A worrying trend is the significant decrease in active addresses on the Solana blockchain. Loud DefiLlama The number of active addresses fell from 33.63 million in the week of May 19th to 25th to just 8.04 million in the week of October 13th-19th. This metric measures the number of wallets sending or receiving SOL, thus indicating low user engagement and reduced demand for Solana.
The low activity on the blockchain could continue to weigh on Solana’s price. Technical analysis shows the price fluctuating between the 200-day exponential (EMA) at $186 and the 100-day EMA at $199. An intraday pullback from $186 met resistance at $197, indicating weak bullish momentum.
Technical indicators and market perspectives
To establish a bullish sentiment, a daily close above the 100-day EMA and the $200 level are particularly important. If retail interest increases, traders could target a breakout above the resistance of the 50-day EMA at $209. The Relative Strength Index (RSI) is steady at 43, indicating a potential upward move. Nevertheless, the Moving Average Convergence Divergence (MACD) has maintained a sell signal since Friday, warning investors to be cautious.
In summary, Solana is in a critical phase in which technical levels and market interest decide what happens next. The possibility of retesting support at the 200-day EMA at $186 remains.