SOL’s rally paused below $240 after staking withdrawals of 3.38 million tokens created selling pressure, while technical indicators and ETF approval odds keep bullish sentiment intact.
Solana SOL $233.5 24h volatility: 0.3% Market cap: $127.30 B Vol. 24h: $10.39 B price has struggled to sustain momentum after two consecutive days of 6% gains, rising only 3% on Friday, October 3. SOL price stalled just below the $240 psychological resistance, as on-chain data pointed to supply pressures from recent staking withdrawals.
On Friday, Solana briefly attempted to extend its winning streak, but gains capped at 3% as sellers re-emerged near $240. Since the US Fed rate cut on September 18, Solana total staking deposits have declined from 411.28 million SOL to 407.9 million at press time.