Solana Surges 10% Trading Volume Jumps 74%

Solana has reclaimed the $162 mark, with traders closely monitoring the cryptocurrency for a potential breakout above $170. This breakout could confirm a move towards the $210 target, according to analysts. The recent surge in trading volume, which increased by 74% in the last 24 hours, supports the bullish momentum. Technical indicators, such as higher highs and bullish moving averages, further bolster the positive outlook.

Solana has been attempting to break through the $157 resistance level, a barrier it has tested multiple times since May. The asset is currently trading at $162.58, after peaking just above $168 before slight consolidation. This move follows a week in which Solana gained nearly 10%, driven by strong market structure and trading interest. The daily chart shows higher highs, and short-term moving averages remain in a bullish formation. The Relative Strength Index (RSI) holds near 61, indicating momentum without signaling overbought conditions.

According to crypto analyst Hailey LUNC, the SOL/USDT pair recently rebounded from a key Fibonacci demand zone. This rebound aligns with broader technical setups pointing to targets of $206.58 and above. However, she noted that a weekly close below $145 would invalidate the current bullish setup. The broader technical picture remains constructive, with Solana recently forming a higher low and potentially retesting the resistance at $184. This level sits between the current trading zone and the next major resistance area above $200.

Solana has emerged from a multi-month declining channel, reinforcing the current upward trend. As open interest increases and investor sentiment improves, market participants are aiming for the next move at the $210 level. A confirmed close above $170 may act as a gateway toward this target. If current levels hold and volume supports further movement, traders expect a continuation of the upward trend with $210 as the next major focus. Analysts highlight the Fibonacci rebound and higher lows, pointing to $206–$210 as the next targets.