SOL Now on Fidelity; Gemini’s Solana Credit Card Launches; $188 Support in Focus

Solana (SOL) was trading at around $191.95 at 15:45 UTC on Oct. 25, after an attempted push towards $195 fizzled out. Traders are closely monitoring whether the market can maintain the high-$180s and establish a base between $192 and $195.

Here are the highlights of the week’s Solana news:

Earlier today, crypto analyst Ali Martinez identified $188 as the most crucial support level for Solana. He shared a Glassnode “realized price distribution” chart, which shows where large amounts of SOL last changed hands. This chart revealed a significant supply cluster near $188, indicating that many holders are close to breaking even at this price. Such zones often act as support levels, with prices tending to hold above them to reduce selling pressure.

On Oct. 23, Fidelity announced the addition of SOL for U.S. brokerage customers, expanding access alongside other cryptocurrencies like Bitcoin (BTC), Ether (ETH), and Litecoin (LTC). While access changes may not directly impact daily trading activity, they do widen the potential buyer base for Solana.

Gemini also introduced a Solana edition of the Gemini Credit Card on Oct. 20, offering rewards in SOL for various purchases. The card provides up to 4% back in SOL on gas, EV charging, and rideshare services, with additional rewards for dining, groceries, and other purchases. The card has no annual fee, no fee for receiving crypto rewards, and no foreign transaction fees. Gemini also introduced an option to auto-stake Solana rewards directly, with staking APRs subject to change.

In terms of session overview, CoinDesk Research’s technical analysis data model showed that SOL had edged higher over the past 24 hours, with buyers defending the $189.25 support level and sellers appearing near $195. The primary support level was identified at $189.25, with secondary support at $186 and resistance clustered around $195.49.

The largest volume spike occurred at 09:00 UTC, with volume rising to 786,000, about 47% above the 24-hour average. On the 60-minute view, SOL fell from $193.73 to $192.53, with temporary dips below $192.50 before stabilizing.

Looking ahead, if SOL manages to close above $195 and hold that level, the next target could be in the $200-$208 range. On the downside, a drop below $192.50 could lead to a retest of $189.25, with further support at $186 and $183.

The CoinDesk 5 Index also saw a slight increase, rising from 1,929.11 to 1,958.10 over the same period, holding above 1,950 after a morning surge.

In the latest 24-hour and one-month chart analysis, SOL was trading at $191.95, with $191-$192 acting as an intraday buy zone and $195 capping rebounds. The focus remains on reclaiming $200-$208 and retesting early-October highs around $236.

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