Solana once again reclaims the $200 psychological level, a barrier that has defined much of its recent price action. This time, the rally comes on the back of a sharp 9% daily gain, pushing SOL’s market cap above $107 billion and reigniting bullish sentiment across the market.

SOL Solana Price Pushes Past the $200 Wall

Solana has crossed the $200 mark once again, a level that has acted as a major psychological and technical barrier. The move comes after a steady 9% gain in the past 24 hours, lifting SOL’s market cap to over $107 billion. This push above $200 reflects strong buying momentum and reinforces Solana’s position among the top-performing large-cap assets.

Solana’s current price is $198.12, up -9.09% in the last 24 hours. Source: Brave New Coin

$200 now becomes the key pivot zone to watch. If Solana manages to hold above this level on daily closes, it could confirm a fresh bullish leg with upside targets in the $215 to $225 range. Immediate support lies near $190, where previous consolidation took place. Sustained strength in trading volume suggests that bulls have control for now, but maintaining the breakout will be critical to avoid another rejection at this long-standing resistance.

Solana Technical Setup Targets Higher Levels

Solana’s latest bounce has been technically clean, with price rebounding strongly off the 50-day EMA near $173 before rallying back to the $205 resistance zone. The confluence between the 50-day and 100-day EMAs shows strong dynamic support, while rising volume adds conviction to the move. The $205 level now acts as a short-term ceiling, and a daily close above it would validate further continuation toward the next upside zones.

Solana rebounds off key EMAs with rising volume, eyeing a breakout above $205 to target $220–$240. Source: Lark Davis via X

Analyst Lark Davis highlights that the breakout becomes actionable if SOL confirms closing above this resistance, opening targets of $220 and $240 in the near term. The MACD momentum also shows signs of turning upward, further aligning with the bullish structure.

Solana Clears Out Shorts With Aggressive Rally

Solana’s surge past the $200 mark came with a notable liquidation of short positions, as highlighted by analyst CW. The heatmap shows how liquidity clusters above $190 were quickly absorbed, triggering a sharp move that forced shorts to exit. This type of squeeze not only clears resistance zones but also resets market positioning, often leaving the path cleaner for continuation once immediate selling pressure is gone.

Solana’s $200 breakout triggered a major short squeeze. Source: CW via X

From a technical perspective, the move underscores how strong buy-side momentum has become. With short interest reduced and liquidity shifted upward, Solana now has room to test the $210 zone, with $215 to $220 as the next logical targets if momentum holds.

Adoption Trends Back Price Momentum

A striking trend is emerging for Solana beyond just price action. Analyst Ose points out that nearly 50% of all USDC transfers across the crypto space are now processed on Solana. This dominance highlights the network’s ability to deliver cheap fees, high throughput, and near-instant settlement, all factors that have positioned it as the primary backbone for stablecoin movement. For an asset class that thrives on reliability and efficiency, Solana is steadily becoming the go-to settlement layer. From a market perspective, this utility-driven adoption creates a strong fundamental base for Solana’s valuation.

Nearly half of all USDC transfers now run through Solana, cementing its role as the leading backbone for stablecoin settlement. Source: Ose via X

Solana Price Prediction: Eyeing a Break Towards ATH

Solana’s structure is showing signs of strength as price continues to climb off a well-defined ascending trendline, now testing resistance near the $205 to $210 zone. This rising triangle pattern has been developing for months, with each higher low signaling stronger buyer conviction. Analyst Rendoshi Ondomoto points out that a clean breakout above $236, the key horizontal resistance, could trigger a rapid move toward Solana’s previous all-time highs, especially with momentum building above $200.

Solana’s rising triangle points to a breakout, with $236 as the key level toward new highs. Source: Rendoshi Ondomoto via X

From a technical view, the RSI is stabilizing in the mid-60s, leaving enough room for further expansion without signaling exhaustion just yet. In this Solana Price Prediction setup, if bulls sustain closes above $210, immediate upside targets rest at $236 and then $250, with $190 continuing to serve as the key structural support.

Final Thoughts: What Next for Solana?

Solana reclaiming $200 isn’t just a number; it’s a signal that momentum may finally be shifting back in favor of the bulls. Strong volume, short squeezes, and adoption tailwinds are stacking up, making a push toward $215 to $225 a realistic next step. If SOL can anchor itself above this zone, the bigger breakout towards $236 and even new highs comes back into focus.

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Filed under: Bitcoin - @ August 23, 2025 7:28 pm