Is SOL USD dead? Crypto market faces another massive sell-off

SOL USD is falling – what’s happening with crypto today? Why do people sell in October?! .cwp-coin-chart path svg { strokewidth: 0.65 !important; }

Bitcoin
BTC

$122,122.44

2.45%

Bitcoin
BTC

Price

$122,122.44

2.45% /24h

Volume in 24 hours

$67.22 billion

Price 7d

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traces some of them, but is there room for fear? Solana ETFs are still awaiting approval and SOL USD is in a two-year range.

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

It had previously broken out of an ascending wedge that had been widening for more than two years.

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

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

As BIG questions arise in retail’s minds, it’s worth asking what the biggest players in the market are doing. Nothing is clear at this point – or at least nothing is circulating in the media. It’s a big week for Solana – the ETF decision is in. Could the selling be an insider dump, or possibly market manipulation in order to buy on the dip?

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SOL USD Drop: What Should Traders Watch For?

(Source – Tradingview, SOLUSD)

Let’s start today’s analysis with the weekly chart. The two-year range is clear – between $120 and $240 with some variance. The 2025 low is actually retraced rather strongly and printed a bullish engulfing candle. The March 2024 high currently acts as support. Good sign, this level has been recovered. Another good thing for bulls here is the possibility of the RSI rising, as well as the uptrend of the moving averages.

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(Source – Tradingview, SOLUSD)

On the 1D chart, RSI also has good free space to run. Moving averages also tend to rise. We had a potential gap below a previous low at $200. It won’t be a gap if the price drops again. However, if this is the case, the uptrend persists until the MAs reverse and we have a clearly lower and lower price structure.

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Final Thoughts on Market Structure and So Far

(Source – Tradingview, SOLUSD)

However, on the 4-hour time frame, we may see a retest of a bearish order block. RSI is reset during this period. The moving averages are starting to rise, with the MA 50 recently breaking above the MA200 and serving as support today. Next, the bulls would like to see the MA100 cross the MA200 and the SOL USD exceed the bearish order block. If that doesn’t happen, then we’ll have a lower low and a lower low. The bulls need to step up their efforts if Solana is to reach a new ATH in October.

Trade safely and always manage your risks!

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