SOL Tests $215 as U.S. Blockchain Push Fuels Momentum

Solana price today is trading near $215, holding gains after a strong August rebound that lifted the token from July’s $170 zone. The latest surge reflects a combination of technical momentum and renewed fundamental support, with buyers attempting to drive price toward the $220–$225 region.

The rally comes as the U.S. government confirmed plans to publish GDP data on multiple blockchains, including Solana, a development seen as a major validation of the network’s infrastructure. At the same time, spot market flows show whales positioning aggressively, with $57.7 million in net inflows recorded on August 29.

With price perched near the 61.8% Fibonacci retracement and upper channel resistance, the next sessions could define whether Solana can extend higher or if rejection sparks a corrective pullback.

Solana Price Holds Firm as Channel Structure Guides Trend

On the 4-hour chart, Solana price action continues to respect an ascending channel that has guided the uptrend through August. Support is established near $200, while overhead resistance at $220 has capped multiple rallies this week.

Exponential moving averages reinforce the bullish bias. The 20-EMA at $207 and the 50-EMA at $200 provide immediate support, while the 100- and 200-EMAs cluster around $194 and $187, forming a strong demand base.

Momentum is constructive but not overextended. RSI stands near 64, suggesting room for further upside without signaling overbought conditions. A clean breakout above $220 would confirm bullish control, potentially opening targets toward $230.

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Whale Inflows and U.S. Blockchain Policy Drive Sentiment

Fundamentals added fresh energy to Solana’s rebound. The U.S. Commerce Department announced that gross domestic product data will be distributed on blockchains including Solana, Ethereum, and Bitcoin. 

The initiative, supported by the Trump administration, is seen as a significant endorsement of blockchain adoption for economic data integrity. Solana’s official account amplified the news on X, highlighting Pyth Network’s role in verifying on-chain statistics.

At the same time, whale activity has surged. Spot inflows on August 29 showed a net positive of $57.7 million, marking one of the strongest accumulation days this quarter. Persistent inflows above $200 suggest large players are confident in Solana’s resilience despite broader market volatility.

This dual backdrop of policy support and accumulation has heightened interest in Solana, with traders framing it as both a short-term breakout candidate and a longer-term institutional bet.

Contrasting Views: Bulls Eye $230, Bears Warn of Rejection

Bulls point to the successful defense of the $193–$200 range as evidence of underlying strength. As long as this floor holds, the uptrend remains intact, with the next resistance zones at $220 and $230. Clearing these levels could shift focus toward the $250 Fibonacci extension.

Bears remain cautious. They note that Solana has struggled repeatedly at the $215–$220 zone, with Bollinger Bands on the daily chart showing upper-band compression that often precedes a pullback. A rejection could drag price back to $200 or even $187, where the 200-EMA aligns with channel support.

This divergence leaves the market balanced between breakout optimism and profit-taking risk.

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Solana Short-Term Outlook: Breakout or Pullback Next?

Heading into August 30, traders are focused on whether Solana can close firmly above $218. Sustained buying above this level would increase the likelihood of a run to $230 and possibly $250. Failure to break through could see price retreat to the $200–$207 support cluster.

The near-term Solana price prediction leans constructive given the combination of whale accumulation and U.S. blockchain policy momentum. However, with resistance tight overhead, the next 24-48 hours will be decisive for trend direction.

SOL Price Forecast Table