cryptopotato.com
TL;DR
- Solana has traded sideways for 18 months, unable to close above the $115 support and $230 resistance.
- Analysts say recent false breakouts may reset the stage for a larger breakout move.
- Weekly close above $230 could push Solana toward targets near $295 and possibly beyond.
Range-Bound Movement Continues
Solana ($SOL) has mostly traded between $115 and $230 for the past 18 months, without a clear closure outside this range. Following a 2023 rally, the price went into a wide consolidation period. Since that time, there have been two sharp but non-sustained determinations of the range.
Notably, the first came in January 2025 when $SOL briefly broke above $230. The second occurred in April 2025 when the price fell below $115 but quickly recovered.
According to analyst BitBull, this structure “resembles a 2023 pattern” that preceded a strong move. At the time of writing, $SOL trades at $186.. Daily volume sits near $9.5 billion. The asset has lost 3% in the last 24 hours and 6% over the week. Despite the decline, the price remains near the upper end of the range.
$SOL has been consolidating for almost 1.5 years now.
It had a false breakout in Jan 2025, and then a false breakdown in April 2025.
Interestingly, this is very similar to a 2023 fractal which led to a major breakout.
Right now, Solana network activity is still strong while… pic.twitter.com/vxrANmLLds
— BitBull (@AkaBull_) July 29, 2025
False Breakouts May Have Cleared the Field
The January breakout failed to hold above resistance and reversed. In April, a quick drop below $115 was also undone. These events may have removed short-term speculation and reset the order book.
The current range between $185 and $195 is holding. $SOL is pressing against the upper boundary again. BitBull stated,
“All it needs now is a weekly close above $230, and $SOL parabolic run will start.”
Price behavior near this level could shape the next phase.
Trendline Break Signals Possible Shift
In parallel, analyst RJTTheOG pointed out that $SOL has broken out of a long-standing downtrend. Following that move, the price gained over 40%. The next resistance is near $206, followed by the all-time high at $295.
RJTTheOG said,
“In this bull run, a move 20–30% above its all-time high is on the table.”
Interestingly, that would place targets in the $355–$385 zone. Analyst Jonathan Carter also identified $180 as an area to watch. He noted that price holding above this level could open a move toward $205, $225, and $268.
As CryptoPotato reported, Solana will release 465,000 tokens this week, worth approximately $87.6 million. These are part of broader token unlocks across the crypto market, totaling more than $686 million. Market watchers will follow how $SOL behaves as new supply enters circulation.