Solana’s price is quietly building momentum, with a pattern that echoes Bitcoin’s explosive 2024 setup. After a liquidity grab and sharp recovery, SOL is retesting key support levels and showing signs of continuation. With strong on-chain metrics backing up the bullish outlook, Solana price prediction could be gearing up for a significant move.

Solana Price Mirrors Bitcoin’s 2024 Setup

Solana price fractal is gearing up for something big. A side-by-side comparison with Bitcoin’s 2024 price structure shows a nearly identical pattern playing out, complete with a liquidity grab, a double top rejection, and a sharp recovery.

The recent sweep below $120 looks less like a breakdown and more like a classic shakeout move. This kind of “liquidity trap” often marks the end of accumulation phases, especially when followed by a strong reclaim.

Solana’s price fractal mirrors Bitcoin’s 2024 pattern. Source: Mister Crypto via X

Mister Crypto believes the structure sets up clean continuation potential. If this fractal continues to hold, Solana price could be setting its sights on the $200 to $280 zone in the coming weeks. The pattern aligns with what Bitcoin did just before its explosive run earlier this year, and with price now climbing steadily above reclaimed levels, bulls are regaining control.

Technical Outlook: Solana Retests Breakout Zone With Eyes on $190

Solana is now retesting the top of its recently broken descending channel, flipping the previous resistance line into potential support. The image shared by Satoshi Flipper clearly shows SOL retesting this diagonal trendline just above $145, where a strong confluence of support is beginning to form. This area also coincides with the mid-range of its previous consolidation band, making it a structurally important level to defend.

Solana is testing key support at the $145 zone, with a healthy pullback potentially setting up for the next move toward $190. Source: Satoshi Flipper via X

This pullback doesn’t appear impulsive, which gives weight to the idea that it could simply be a healthy retest rather than the start of a deeper correction. If SOL can maintain strength above the $142 to $145 zone, the stage is set for another leg higher, with $190 now marked as the next logical upside target. This comes right after Solana mirrored Bitcoin’s 2024 pattern, where a similar retest led to aggressive continuation.

SOL Solana Price Drawdown Shrinks as Recovery Builds Momentum

Solana’s recovery story continues to quietly gain strength, and the latest drawdown chart from Into The Cryptoverse adds weight to that view. At its worst, SOL had plunged nearly 95% from its all-time high, but that figure has now narrowed to around -44%, showing a steady climb out of the deep bear market hole.

Solana’s drawdown has significantly narrowed, indicating a strong recovery. Source: Into The Cryptoverse via X

The visual highlights how the red “drawdown zone” is slowly shrinking as price rebuilds higher lows over time. This drawdown compression also syncs with the recent bullish technical setups. After reclaiming trendlines and retesting breakout levels, Solana is no longer bleeding like it did in the 2022–2023 phase. With drawdown levels now at their lightest since late 2021 and momentum building around key structural retests, the broader trend seems to be shifting in favor of the bulls.

Solana’s On-Chain Strength Is Gaining Momentum

Solana isn’t just winning on price action; it’s dominating the on-chain metrics that matter. According to fresh data from Blockworks, Solana has blown past every other chain in tokenized asset spot volume, marking one of the clearest signals of growing real-world usage. That green vertical spike isn’t subtle; it’s a sign of market confidence shifting firmly toward SOL.

Solana is leading the way in tokenized asset volume, signaling growing real-world usage and strong market confidence. Source: Blockworks via X

More importantly, Solana is leading where it counts: application revenue. As reported by SolanaFloor, Solana DApps brought in $562 million in Q2 2025, more than Ethereum, BNB Chain, and Base combined. That makes five straight quarters of outperformance. Several on-chain catalysts are fueling this dominance:

Tokenized asset volume is now firmly led by Solana, outpacing every competitor by a wide margin.
DApp revenues are at record highs, with Solana securing over 50% of total chain revenue share in Q2.
Solana’s DePIN and RWAs initiatives are beginning to drive real economic activity on-chain.
Users and developers continue to flock to the network thanks to low fees and high throughput.

With all these metrics flashing green, Solana’s price strength now has strong fundamental backing. As the broader market stabilizes, these on-chain tailwinds could become the engine that powers the next leg higher.

Solana is dominating the DApp revenue space, with $562 million in Q2 2025. Source: SolanaFloor via X

Final Thoughts

Solana’s current price action and technical setup are hard to ignore, especially when considering its impressive on-chain performance. With a price structure echoing Bitcoin’s earlier run, the potential for Solana to break through resistance and target higher levels, like the $200 to $280 zone, remains high.

While the outlook is favorable, the risk of a deeper correction can’t be ruled out entirely. If Solana fails to hold critical support, it could face more sideways movement before continuing higher. But for now, with everything from technical setups to on-chain data backing the bullish case, Solana remains one to watch closely for the next big move.

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Filed under: Bitcoin - @ July 5, 2025 11:30 pm