Solana Chart Shows First Heating Volume Readings in Six Months

Solana (SOL) recorded about six daily spot-volume readings in the chart’s “heating” category as its price fell from roughly $112 to $103. The readings were the first heating marks in roughly six months. SOL had approached $120 earlier in October before retreating.

The chart shows a different pattern from December through early June, when nearly all markers were in the cooling category. Over that stretch, SOL declined from about $150 to the low $80s. The markers compare daily spot volume with a baseline, so cooling indicates readings below that reference level.

At the June low near $62, the markers were neutral rather than heating. They remained neutral as SOL recovered toward $120 in early October. The chart therefore records the latest heating readings during a price decline, unlike the earlier stretch when the price fell alongside mostly cooling readings.

A heating marker means daily spot volume is above the chart’s baseline. Its color does not identify whether the activity came from buyers or sellers, so the readings alone do not establish the direction of trades.

In an Oct. 18 post on X, Iko | Web3 called $100 “the key zone to watch.”