Solana News Today: Whales and Institutions Fuel Solana’s Push Toward $250

Solana (SOL) has demonstrated a strong upward trajectory in recent weeks, with its price surpassing the $200 level and inching toward the $204–$208 range. This resurgence has been fueled by a combination of factors, including increased institutional interest and whale accumulation. On-chain data indicates that large investors have been accumulating SOL in the $190–$200 price range, suggesting a strong foundation of demand. Analysts point to this as a sign of confidence in the asset's potential to reach $250 in the near future and retest its all-time high of $295, should the momentum continue [1].

The Solana ecosystem has also been a driving force behind the token’s recent performance. Buyback activities by Solana-based protocols have surged, rising from $14.5 million to $46.8 million in just two weeks, marking a 158% increase. As of the latest data, these protocols account for 40% of all crypto project buybacks, a significant rise from 11% in June. The growing participation of projects within the Solana ecosystem reflects a stronger commitment to reinvesting in SOL liquidity, which in turn supports token demand [1].

From a technical perspective, Solana is currently at a critical juncture. The $210 resistance level has repeatedly stalled the price, forming a triple-top pattern that typically signals weakening momentum. However, the ascending trendline from July continues to support a bullish outlook. The RSI stands at 67, indicating a strong but not overbought position, while the MACD remains positive with expanding histograms. These indicators suggest that the current price structure is still in favor of longs, provided that key resistance levels are successfully breached [1].

Short-term traders are closely watching for confirmation of a breakout above $210. A sustained close above this level could propel Solana toward $218–$228 and potentially $250. However, a failure to maintain prices above $200 or a pullback below $187 would signal a bearish shift, exposing support at $176. Futures open interest on major exchanges has increased by 2.8% to 2.9%, indicating growing leveraged exposure to the upside. Additionally, institutional participation, particularly in CME futures, highlights a broader and more diversified investor base beyond retail traders [1].

The potential for further institutional adoption is also on the horizon. VanEck’s recent filing for a Solana ETF backed by JitoSOL staking tokens has added another layer of credibility to the asset. If approved, such an ETF could inject billions of dollars into the Solana market, accelerating revaluation. Furthermore, Solana is under consideration for use in European digital currency infrastructure, placing it in the same category as Ethereum and reinforcing its position as a high-throughput blockchain solution. These developments suggest that Solana’s demand is not purely speculative but is increasingly being supported by institutional and regulatory recognition [1].

While optimistic projections envision Solana reaching $1,000 under certain market conditions, analysts caution that such outcomes depend on avoiding network instability. Despite significant improvements in network reliability, historical outages remain a concern for some investors. Conservative estimates, however, focus on $250–$300 as the next realistic price targets, with $400–$500 being possible in bullish macroeconomic conditions. The current price action and on-chain dynamics continue to support a positive outlook, provided that the ecosystem can maintain its growth trajectory and avoid technical setbacks [1].

Source: [1] Solana (SOL-USD) Price Forecast - Trading News (https://www.tradingnews.com/news/solana-sol-usd-price-forecast-whale-accumulation-and-etf-buzz-push-sol-toward-295-usd)