Solana News Today: Solana Price Surges 35% in July 2025, Targeting $220 Resistance

Solana (SOL) has reemerged as a standout altcoin in the cryptocurrency market, with its price showing a steady climb in July 2025. After a period of sideways movement and a multi-month correction, SOL's price is now exhibiting strong bullish signals on the daily chart. This has led traders and investors to question whether this rally is merely a relief bounce or the beginning of a significant breakout.

Technical indicators, including a rising Relative Strength Index (RSI) and a classic Elliott Wave structure, support the current price of SOL, which is trading around $177—its highest level in weeks. The question remains: can SOL push through to $200 and challenge the $220 resistance zone? To answer this, we need to analyze Solana’s price chart, key indicators, and Fibonacci targets to determine the potential trajectory of this rally.

On the daily chart, SOL is displaying impressive strength with a powerful breakout from a consolidation zone and consistent bullish Heikin Ashi candles forming higher highs. The current price sits at $177.64, reflecting steady upward momentum after rebounding from sub-$130 levels earlier this month. The sustainability of this rally is a key consideration, and breaking down the technicals can provide insights into whether SOL can power through to $200 and beyond.

The Relative Strength Index (RSI) is a crucial indicator for gauging trend strength. Currently, the RSI stands at 72.10, suggesting that the asset is entering overbought territory. While an RSI above 70 typically signals caution, in trending markets—especially during crypto bull runs—RSI can remain elevated for extended periods without triggering reversals. This RSI breakout is significant because it is supported by strong volume and bullish candle structure, hinting that this could be the start of a larger move rather than a temporary overextension.

Fibonacci retracement and extension calculations based on the previous price swings provide additional insights. The local swing low is at $122, the recent breakout level is at $160, and the current price is $177.64. The 1.618 Fibonacci extension from the $122–$160 move calculates to $221.5, aligning closely with the dotted blue horizontal resistance line near $220 on the chart. This confirms $220 as a realistic short-term target.

The chart also shows well-defined support and risk levels. Immediate support sits near $160, the recent breakout level, while the invalidation zone lies just below $145, where previous higher lows were established. As long as SOL price holds above $160, the bullish thesis remains intact. A break below $145 would suggest a failed breakout and potentially trigger a corrective wave.

The visible Elliott Wave count (marked 1-2-3) suggests that Solana price is in the middle of a Wave 3 rally. Wave 3 is typically the most powerful and extended, often pushing prices well beyond conservative targets. If Wave 1 spanned from $122 to $160 (a $38 move), and Wave 3 mirrors this or exceeds it, the Wave 3 target would be $206.5. This confirms $205–$220 as a likely zone where Wave 3 could complete, followed by a mild correction in Wave 4.

Based on the RSI, Fibonacci extension, and Elliott Wave theory, Solana price is poised for a continued move upward. If the bullish momentum sustains and Bitcoin remains stable, the short-term target is $200, with a mid-term target of $220–$225. Support to watch is at $160, and a bearish invalidation would occur below $145. This breakout is not just a random push—it is backed by structure, momentum, and technical confirmation. The odds are clearly tilting in favor of the bulls.