Solana is holding firmly above key support, with participants watching the $260 level as the trigger for its next major breakout.
Solana has once again taken center stage in the crypto market, with bulls now eyeing a decisive breakout above the $260 zone. Despite recent shakeouts, Solana’s price holding $200 support has kept sentiment alive.
Additionally, with liquidity dynamics shifting and fresh on-chain inflows backing the move, the latest Solana Price Prediction suggests that a bigger breakout could be closer than many expect.
Solana current price is $234.21, up 5.56% in the last 24 hours. Source: Brave New Coin
Technical Levels and Key Supports
A weekly close above $260 is being highlighted as the critical level that could spark Solana’s next leg higher. The weekly chart shared by Ali Martinez shows how price has consistently rebounded from mid-cycle lows, with Fibonacci extensions pointing to upside targets around $350 and as high as $520.
Solana’s weekly chart highlights $260 as the breakout level, with Fibonacci targets indicating potential targets of $350 and $520. Source: Ali Martinez via X
At the same time, support remains firm around the $180 to $200 range, where buyers have repeatedly stepped in. Turning $260 into a new base would confirm a breakout structure, allowing Solana to challenge higher resistance bands with stronger momentum. Until then, the range between $200 and $260 continues to act as the battlefield for bulls and bears.
Liquidity Shift and Market Impact
Recent liquidity heatmaps shared by Crypto Seth help explain the sharp pullback seen in Solana. Overleveraged longs gave market makers the opportunity to flush liquidity downward, collecting billions before the market reset. With that move complete, the chart now shows stacked short liquidity sitting above current levels.
Liquidity heatmaps reveal stacked short positions above current levels, setting the stage for a potential short squeeze rally. Source: Crypto Seth via X
This reversal of positioning creates a setup where any move higher could force shorts to cover. That dynamic often accelerates rallies, turning what looked like a negative flush into the foundation for further upside momentum. If shorts begin to unwind, Solana could see rapid upside, especially around key resistance zones.
Short-Term Resistance in Focus
From a closer view, the $253 level has become the most important short-term pivot. Price action has struggled to reclaim this zone, leaving it as the dividing line between extended consolidation and renewed bullish momentum. Traders are treating this level as a confirmation point for positioning.
Solana faces key short-term resistance at $253, with a breakout likely unlocking targets between $280 and $300. Source: Crypto Tony via X
Crypto analyst Crypto Tony believes a clean close above $253 would open the way to the $280 to $300 range, giving bulls clearer control. However, repeated failures at this resistance could extend sideways action and delay the next impulsive move. Until a breakout is confirmed, SOL Solana price remains in a consolidation phase, with buyers needing more conviction to push price higher.
On-Chain Data Points to Strength
On-chain metrics add conviction to Solana’s bullish outlook. The network’s stablecoin supply has just reached a new all-time high, signaling that more liquidity is being parked within the ecosystem. This kind of inflow often precedes higher trading activity and stronger capital efficiency, which can act as fuel for rallies.
Solana’s stablecoin supply hits a new all-time high, signaling fresh liquidity and stronger ecosystem confidence. Source: 0xMert_ via X
The rise in stablecoin reserves underscores investor confidence in Solana’s broader ecosystem. With fresh liquidity at hand, the network is better positioned to sustain higher valuations if technical breakouts confirm. Historically, when stablecoin inflows lead price, Solana has often followed with multi-week expansions.
Solana Price Prediction: Ascending Triangle Setup
Looking at the long-term chart, Solana has been consolidating within a massive four-year ascending triangle. Higher lows have been pressing against a flat resistance, forming one of the most bullish classical patterns in technical analysis. The triangle’s compression suggests that volatility is building for a major move.
Solana’s four-year ascending triangle nears its $260–$270 breakout zone, pointing to potential targets above $500. Source: gnarleyquinn via X
The upper boundary of this triangle sits between $260 and $270, making it the most decisive resistance zone for Solana. A confirmed breakout would validate the Solana Price Prediction towards $500 and beyond in this cycle.
Closing Thoughts
Solana’s market structure shows both immediate challenges and longer-term promise. The $253 and $260 levels remain the most important test for Solana price.
Liquidity dynamics suggest that shorts could fuel the next rally, while on-chain growth provides a strong foundation. The ascending triangle adds another layer of conviction for those betting on a bigger breakout. Overall, if Solana can reclaim $253 and secure a weekly close above $260, the path towards $350 and $520 becomes increasingly realistic, cementing its role as one of the leading assets this cycle.