Solana News Today: Solana Price Surges 15.77% as Bullish Breakout Gains Momentum

Solana ($SOL) has begun showing early signs of a bullish breakout, with price action indicating a strong push toward $187 as bid walls build at $174. At the time of writing, SOL is trading at $181, having rebounded from an early August low of $157. The recent price movement is supported by rising trading volumes and increased activity in derivatives markets, suggesting a shift toward buying pressure [1].

Chart analysis indicates that SOL has broken out of a descending channel pattern following a bounce from the $155 support zone. This breakout has positioned bulls in control of the short-term trend, with technical indicators reinforcing the bullish momentum. The Relative Strength Index (RSI) stands at 60.61, indicating moderate strength, while the Moving Average Convergence Divergence (MACD) remains above the signal line, signaling continued upward pressure [1].

Derivatives market data from CoinGlass reveals a 9.35% increase in trade volume, with turnover reaching $24.12 billion. Open interest has also risen by 1.60% to $9.88 billion, suggesting more traders are positioning for higher prices. Large bid walls at $174 are seen as a sign of strong buy-side interest, with liquidity targets set at $177 and $194. These levels serve as key near-term price objectives if the current upward trend continues [1].

According to BitGuru, SOL has risen 15.77% on the 4-hour chart from the $155–$160 demand zone, breaking above $175 and currently testing resistance near $180. A sustained move above this level could lead to a retest of the $206 high. However, a failure to break above $180 could result in a pullback toward $170 or $165 [1].

On-chain data suggests that the $165 level is acting as a mid-range stabilizer, historically attracting both buyers and sellers. This zone becomes a critical area to monitor should a pullback occur. Analysts note that as long as Solana remains above $140, the potential for a retest of the $250 resistance remains intact [1].

The daily chart from Crypto Target highlights a higher-low formation above the 50 EMA, with both the 100 EMA and 200 EMA trending upward. This configuration supports the continuation of the bullish trend. Additionally, the golden cross formation—where shorter-term moving averages cross above longer-term ones—signals a constructive environment for further gains [1].

Order flow data from Blockchainedbb reveals growing buy-side absorption, with large bid clusters forming just above $174. This indicates active accumulation by buyers at this level, reinforcing the potential for Solana to continue rising toward $177 and $194 [1].

Overall, the broader market structure remains intact, with key support and resistance levels providing a clear roadmap for Solana’s next potential moves. Analysts remain cautiously optimistic, noting that the absence of heavy sell-side pressure until the $189 to $194 range offers a relatively clean path for the near term [1].

Sources:

[1] Solana Price Prediction: SOL Holds Key Support as ... https://bravenewcoin.com/insights/solana-price-prediction-sol-holds-key-support-as-breakout-targets-250-in-bullish-setup