Solana News Today: Solana Surpasses $169.09 Support Eyes $204.04 Breakout for $407.40 Rally

Solana (SOL) has posted a 4.28% gain, trading at $182.87 after maintaining support above $169.09, a level seen as crucial for its short-term stability [1]. The price action has reinforced the possibility of a strong bullish continuation, with the first key resistance at $204.04 now in focus. A breakout above this level could reinvigorate the market's interest in Solana, setting the stage for a move toward the mid-term target of $296.48, which has historically acted as a turning point for price reversals [1].

If Solana manages to hold its gains above $204.04 and push beyond $296.48, the path would open toward a long-term target of $407.40, a level that would mark a near two-year high for the cryptocurrency [1]. This potential movement suggests a return to strong market leadership, with the blue projection path on the 3-day SOL/USDT chart indicating a direct route to multi-year highs [1].

The downside structure remains intact, with support levels at $136.64, $122.93, and $112.50 acting as potential safety zones in case of a retracement [1]. Should Solana fail to hold above $122.93, the 2024 low of $96.50 could become a focal point for the market [1].

On the upside, the $315.00 to $407.40 range represents an area of heightened interest, where increased trader activity is expected if the price enters this corridor [1]. The farthest resistance is marked at $657.58, a multi-year high that remains a distant but notable objective for long-term holders [1].

Recent volume activity has shown a clear uptick, especially as the price moves closer to key breakout levels [1]. This increased participation often signals growing market confidence and could accelerate the price toward higher targets. Analysts suggest that a confirmed move above $204.04 would shift the market’s focus toward $296.48 and potentially push the price into the $407.40 range more quickly than expected [1].

The clean breakout structure formed during the mid-2025 trading period reflects historical tendencies of Solana to stage rapid price increases once major resistance levels are cleared [1]. The current market sentiment is cautiously optimistic, with the question now centering on whether Solana can sustain enough upward momentum to reach the $407.40 target before encountering stronger resistance that could slow the advance [1].

Source: [1] Solana Targets $407.40 After Holding Key $169.09 Support Zone (https://cryptonewsland.com/solana-targets-407-40-after-holding-169-09/)