Victoria Bazir
Solana (SOL) has been holding steady within its ascending price channel over recent weeks, showing that bullish momentum hasn't faded. The cryptocurrency is currently defending a crucial support zone near its 200-day simple moving average—a level that historically signals healthy trend continuation. If this support holds firm, SOL could be gearing up for a move toward $240, with potential to reach $300 down the road.
Solana Defends the 200-Day SMA
Crypto analyst Ali recently shared a chart showing Solana trading around $185.5, sitting right at the lower edge of a rising parallel channel that's been guiding its uptrend since early April. According to Ali, this area has proven reliable—each time SOL has tested this lower boundary, it's bounced back, reinforcing its technical importance.
The 200-day SMA running through this same zone adds extra weight to the support level. When an asset stays above this moving average, it typically signals that the broader trend remains positive, and Solana seems to be following that playbook.
Technical Picture: Gradual Reaccumulation Phase
Looking at the chart reveals several encouraging signs:
- Support Range: The $175–$180 zone where the 200-day SMA meets the lower channel trendline creates a strong confluence area for potential bounces
- Short-Term Resistance: The channel's midpoint around $240 is the next hurdle to clear
- Upper Target Zone: A push to the upper channel boundary could send SOL toward $300 if momentum builds
- Trend Momentum: The pattern of higher lows and higher highs suggests steady accumulation and solid market structure
The projection on the chart suggests a likely upward path through November, with SOL expected to climb gradually from its current range back toward the channel's middle before potentially accelerating higher.
Market Context: Fundamentals Support the Technical View
Beyond the charts, Solana's underlying fundamentals look solid. The blockchain continues attracting more developers, expanding its presence in DeFi, gaming, and tokenized assets, while transaction volumes keep growing. These improvements have helped restore investor confidence, making Solana one of the stronger performers among major altcoins in 2025. The project has also secured strong ecosystem funding and attracted renewed institutional attention to scalable blockchain infrastructure—factors that could fuel the next rally if market sentiment stays positive.
What to Watch Next
If Solana maintains support above $180, it would validate the bullish setup and likely bring in fresh buying interest. A clean break above $240 could open the door to $300, marking a return to the channel's upper boundary. On the flip side, a daily close below $175 would challenge the bullish case and could trigger a deeper pullback toward $160, where another support layer awaits.
Victoria Bazir
