Is SOL USD Dead? The Crypto Market Is Facing Another Sell-Off

[Ben Graham]

SOL USD is dropping – what is happening with crypto today? Why are people selling during Uptober?! Bitcoin BTC $121,632.52 3.12% Bitcoin BTC Price $121,632.52 3.12% /24h Volume in 24h $64.74B Price 7d is retracing some, but is there space for fear? Solana ETFs are still waiting to be approved and SOL USD is in a two year range.

Market Cap

24h 7d 30d 1y All Time

#Altcoins $BTC.D is in a bearish backtest.

It previously broke out of an ascending broadening wedge that had been forming for more than 2 years.

Bullish for Altcoins. Very bullish pic.twitter.com/To7t8pg7fG

— 𝕄𝕠𝕦𝕤𝕥𝕒𝕔ⓗ𝕖 (@el_crypto_prof) October 7, 2025

As BIG questions loom on retail’s mind, it is good to ask what the bigger players in the market are doing. Nothing is clear at this point – or at least nothing is circulating the news outlets. This is a big week for Solana – ETF decision comes out. Could the selling be insiders unloading, or possibly market manipulation in order to buy lower?

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SOL USD Dropping: What Should Traders Watch For?

(Source – Tradingview, SOLUSD)

Let us begin today’s analysis with the Weekly chart. The two year range is clear – between $120 and $240 with some deviations. The 2025 low actually retraced rather strong and printed a Bullish Engulfing candle. The high from March 2024 is currently acting as support. Good sign this level was reclaimed. Another good thing for bulls here is space for RSI to run higher, as well as uptrend on the Moving Averages.

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(Source – Tradingview, SOLUSD)

On the 1D chart RSI also has good headspace left to run. Moving Averages are also trending upward. We had a potential deviation below a previous low at $200. It won’t be a deviation if price goes down there again. Though if it does, the uptrend remains until MAs turn around and we have a clear lower high and lower low price structure.

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Final Thoughts On Market Structure And Uptober

(Source – Tradingview, SOLUSD)

Though on the 4H timeframe we can see a retest of a Bearish Orderblock. RSI is getting reset on this timeframe. Moving averages are starting to turn upwards, with MA 50 recently breaking above MA200 and acting as support today. Next, bulls would want to see the MA100 cross over MA200 and SOL USD break above the bearish orderblock. If that does not happen, then we have a lower low and a lower high formed. Bulls need to step it up if Solana is going to hit a new ATH in Uptober.

Trade safely and always manage your risk!

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Is SOL USD Dead? The Crypto Market Facing Another Sell-Off

• SOL USD price still ranging in the $200s.
• RSI on 1D and 1W has space to grow, but on 4H it needs to cool down
• Bearish Orderblock between $235-$240 got tested and rejected. Needs to break!
• Decision week for Solana ETFs – could impact price

 

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