Solana Price Prediction: SOL Eyes Breakout Above $145 as Bulls Defend Wave 4 Structure

Solana is holding firm above key support, with bullish momentum building as the price approaches a potential breakout past $145 toward cycle-high targets.

After weeks of choppy price action, Solana is starting to show stability again. SOL is quietly setting up for what could be a major breakout. As of June 24, 2025, the price is hovering around $144, but all eyes are on whether it can flip resistance into support and trigger the next leg higher

Solana’s Last Leg Before the Cycle Tops?

Solana is hanging onto key support, and this might just be the calm before one final leg up. According to More Crypto Online, SOL still has one more boom phase left in the tank for this cycle, but only if $109 holds. As per the Elliott Wave structure, SOL Solana price is currently sitting around the wave 4 correction.

Solana holds key support near wave 4 territory, eyeing a potential fifth-wave breakout toward $270 to $320. Source: More Crypto Online via X

If this zone continues to act as support, a fifth wave extension could push the price into the $270 to $320 target range. That area lines up with the 1.618 extension of wave 1, a common target for cycle tops.

Solana is currently hovering near the 61.8% retracement of the previous wave. Analyst, More Crypto Online, believes that if SOL breaks below $109, it would invalidate the structure and shift the outlook toward a bearish trend.

SOL Solana Price Eyes a Breakout Above $145

Following the longer-term bullishness, now Solana’s short-term trend is also starting to flip bullish. CryptoAM17 points out, the $145 level is acting as local resistance on the 4-hour chart, right around the previous support-turned-resistance zone. If SOL can flip this into support, the next upside targets sit at $165 and $179, aligning with the June breakdown levels where price previously rolled over.

Solana tests key resistance at $145, with a breakout signaling a possible move toward $165 and $179. Source: CryptoAM17 via X

The chart is showing a clean descending trendline that SOL has already challenged. A confirmed breakout above both this trendline and the $145 level would mark a short-term reversal confirmation.

Short Squeeze Fuels Momentum Shift in SOL

Solana just witnessed a major short squeeze. According to SolanaFloor, over $20 million in short positions were liquidated in the past 24 hours, with the single largest wipeout totaling $1.66 million around the $141 level, triggered by a sharp risk-on move across markets.

Over $20M in shorts liquidated sparks a momentum shift for Solana. Source: SolanaFloor via X

Liquidation clusters like this often mark an inflection point, where bearish bets get wiped out and fresh momentum enters the market. With shorts covering and longs stepping in, SOL is picking up the kind of volatility that could help push it cleanly through key resistance zones like $145.

Solana Technical Outlook

After weeks of volatility, Solana appears to be carving out a new base, with the latest weekly structure offering a potential recovery path. In CJ’s chart, SOL is bouncing off a clear demand zone near the $120 to $125 region.

Solana rebounds from $120 to $125 demand zone and now eyeing a move toward $160–$170. Source: CJ via X

The current weekly candle structure is showing signs of reclaiming mid-range support, hinting at a possible continuation higher if bulls hold this area. Price is also respecting a clean horizontal range, and crypto analyst CJ’s projected move into the $160 to $170 area lines up with prior weekly supply.

This technical setup comes just as Solana is testing key confluence points on the chart. The horizontal resistance near $150, previously a breakdown level, has now become the key hurdle. If SOL can flip this into support, it opens the door for a larger structure to play out, targeting the upper range near $180.

Final Thoughts: Will the Bulls Finally Take the Lead?

Solana is clearly setting up for a high-stakes moment. With support holding around $120 to $125 and short sellers already wiped out, the conditions are building for a fresh leg higher. The charts are pointing toward a breakout above $145, but it’s not just technicals pushing the story; market sentiment is shifting too.

Solana (SOL) is trading around $144.21, up 7.73% in the last 24 hours. Source: Brave New Coin

Short-term traders are starting to turn bullish again, and if the current trend holds, SOL could finally reclaim lost ground and challenge that $160 to $170 zone.

Additionally, if SOL can stay above $109 and reclaim key levels like $150 and $165, it opens up the door to $270 and beyond. Momentum is on the bulls’ side.