TLDR:

Solana price trades at $212 with 15.43% gains this week, testing major resistance near the $260 level.
Analysts flag a rising wedge pattern that could shift direction depending on Bitcoin and Ethereum performance.
Solana trades above its 200-day MA and EMA, reinforcing bullish momentum as volumes grow across exchanges.
Treasury activity and new crypto funds continue fueling interest, lifting Solana’s trading volume above $13.8B daily.

Solana is back in focus. Traders are watching closely as the price pushes higher. The coin has rallied sharply this month. Buying activity tied to treasury vehicles has lifted demand. Resistance near $260 is now the key level everyone is watching.

Solana Price Analysis

Analyst Daan Crypto Trades shared that Solana is locked in a rising wedge formation. Normally, this pattern leans bearish. But in bullish markets, such structures can break to the upside instead. This sets the stage for a critical move.

The chart shows price pressing against resistance near the 2021 peak around $260. That level has rejected buyers before. Breaking it would clear the way for higher prices. Failing there could reset momentum back toward support.

$SOL Has been strong on the back of treasury vehicles being spun up and potential upcoming buying + frontrunning.

Chart is at an interesting spot. Currently testing resistance which has held for some time now.

Rising wedges are generally leaning bearish but in bull markets it’s… pic.twitter.com/wC3qPhi89O

— Daan Crypto Trades (@DaanCrypto) August 28, 2025

Data from CoinGecko puts Solana at $212.71 today. Trading volumes sit near $13.8 billion over 24 hours. The coin is up 3.87% in the past day and 15.43% this week. This surge reflects renewed interest in the token as treasuries and funds explore exposure.

Support remains strong above long-term moving averages. The daily 200 MA at $157 and 200 EMA at $168 both sit below current levels. Holding above those averages keeps Solana in a healthy bullish trend.

Treasury Demand Fuels Market Interest

Treasury vehicles linked to Solana are adding fuel to demand. Traders suggest these structures may be front-running upcoming institutional buying. This has created a wave of momentum that pushed volumes higher in late August.

On-chain activity shows growing interest across decentralized applications. Market participants are also tracking stablecoin flows and staking. Together, these have lifted sentiment after a prolonged consolidation phase.

Daan Crypto Trades noted that Bitcoin and Ethereum could guide Solana’s next direction. If the broader market holds strength, Solana may ride the wave toward higher levels later this year. For now, resistance remains the main hurdle.

Rising volumes add weight to the bullish case. Investors will continue watching whether Solana can sustain pressure at the $260 mark. A confirmed breakout above that level could attract fresh buyers and extend the rally.

Solana price on CoinGecko

The post Solana Price Eyes $260 as Treasury Demand Sparks SOL Buying Pressure appeared first on Blockonomi.

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Filed under: Bitcoin - @ August 28, 2025 12:16 pm