SOL Tests $215 as U.S. Blockchain Push Fuels Momentum
The post SOL Tests $215 as U.S. Blockchain Push Fuels Momentum appeared on BitcoinEthereumNews.com.
Solana price today is trading near $215, holding gains after a strong August rebound that lifted the token from July’s $170 zone. The latest surge reflects a combination of technical momentum and renewed fundamental support, with buyers attempting to drive price toward the $220–$225 region. The rally comes as the U.S. government confirmed plans to publish GDP data on multiple blockchains, including Solana, a development seen as a major validation of the network’s infrastructure. At the same time, spot market flows show whales positioning aggressively, with $57.7 million in net inflows recorded on August 29. With price perched near the 61.8% Fibonacci retracement and upper channel resistance, the next sessions could define whether Solana can extend higher or if rejection sparks a corrective pullback. Solana Price Holds Firm as Channel Structure Guides Trend SOL price dynamics (Source: TradingView) On the 4-hour chart, Solana price action continues to respect an ascending channel that has guided the uptrend through August. Support is established near $200, while overhead resistance at $220 has capped multiple rallies this week. Exponential moving averages reinforce the bullish bias. The 20-EMA at $207 and the 50-EMA at $200 provide immediate support, while the 100- and 200-EMAs cluster around $194 and $187, forming a strong demand base. Momentum is constructive but not overextended. RSI stands near 64, suggesting room for further upside without signaling overbought conditions. A clean breakout above $220 would confirm bullish control, potentially opening targets toward $230. Related: Cardano (ADA) Price Prediction and Analysis for August 30 Whale Inflows and U.S. Blockchain Policy Drive Sentiment Fundamentals added fresh energy to Solana’s rebound. The U.S. Commerce Department announced that gross domestic product data will be distributed on blockchains including Solana, Ethereum, and Bitcoin. BREAKING: The U.S. Commerce Department will begin distributing GDP data on Bitcoin, Ethereum, and…
Filed under: News - @ August 29, 2025 8:27 am