Solana is gaining momentum with strong technical patterns and rising institutional demand, signaling a potential breakout toward $300. However, key resistance levels and ETF decisions will determine its short-term direction.
Solana (SOL) is making waves again. Trading near $197, it’s up over 19% this week, powered by a textbook cup-and-handle breakout and boosted on-chain metrics like TVL rising above $10 billion.
Does this momentum signal a lasting ecosystem transformation or a short-lived technical spike?
Let’s find out.
Weekly Crypto Market Analysis
Our public blog posts share broad market commentary, but they don’t dive into the assets with real breakout potential. For timely, actionable insights into major cryptocurrencies, fast-growing altcoins, and tokens with explosive upside, we recommend our premium crypto analysis. This service highlights leading indicators, market momentum, and emerging narratives shaping the next big moves.
Premium service: Crypto price analysis >>
Let’s get back to Solana…
Chart Signals Show Real Upside
SOL’s weekly chart reveals a classic cup-and-handle pattern , with a breakout zone between $185–189. A decisive move past $190 could open up a rally toward $235, $263, and even $295+.
Adding to the momentum, a golden cross – where the 50-day EMA crosses above the 200-day EMA – is near completion, suggesting additional upside (analysts forecast 30% gains toward $245 then potentially $300+).
Current resistance lies in the $194–199 range; holding above this will be key.
On‑Chain Strength & Institutional Adoption
Beyond charts, Solana’s fundamentals are flourishing. Its Total Value Locked has surged to over $10.3 billion as daily active users and developers consistently grow.
Institutional interest is robust: the REX‑Osprey SOL + Staking ETF has attracted over $41 million since launching, and three Solana-focused ETFs pulled in $78 million last month.
Moreover, the SEC has asked issuers to file amended spot SOL ETF applications by end of July, signaling a likely approval by October.
What to Watch Next
The path ahead hinges on a few key developments. A clean breakout above $200 could trigger a fast move to $300+, driven by ETF inflows and core liquidity tailwinds. However, a failure to firmly break $189–189, or dipping below $175 support, may lead to a pullback toward $165–$175.
Conclusion
Solana is at a pivotal moment where technical momentum meets real utility and institutional validation. If SOL sustains above the $190–200 zone, spurred by upcoming ETF approvals and growing on – chain activity, a rally toward $300 is well within reach.
But caution is warranted – watch those breakout levels and ETF headlines closely.
Buy Solana With The Best Crypto Exchange for Intermediate Traders and Investors
Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.
0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
Copy top-performing traders in real time, automatically.
eToro USA is registered with FINRA for securities trading.
30+ million
Users worldwide
Our latest crypto alerts – instantly accessible
This is how we are guiding our premium members (log in required):
- This Is What Bullish Basing Patterns Look Like (Hint: Alt Season Starting) (July 20th)
- Is Alt Season 2025 Here? (July 15th)
- Alts Breakout Happening Now. These Are Price Time Combinations To Watch. (July 11th)
- Crypto Charts Are Improving, Just Have A Look At These 3 Leading Indicators (July 6th)
- Alt Season 2025: The Animals Are Back, This May Be A Very Bullish Signal (June 29)
