SOL Solana price is starting to turn heads again as fresh signs of strength emerge across both the charts and on-chain activity. Market participants now believe SOL could be setting up for a 20-30% rally ahead.

DeFi Dev Corp Expands Its Solana Holdings by 64%

In a bold move, DeFi Dev Corp has significantly increased its exposure to Solana, now holding 690,420 SOL, representing a 64% increase from just two months ago. The acquisition of an additional 47,272 SOL brings their total stake to an impressive $103 million. This step signals a growing belief in Solana’s potential as DeFi Dev Corp joins other institutional players in the ecosystem.

With this much capital now committed to SOL, it’s clear that interest in Solana is strengthening, and DeFi Dev Corp’s growing position could add credibility to the network in the eyes of other investors.

DeFi Dev Corp boosts its Solana stake to $103M. Source: DeFi Dev Corp via X

The uptick in SOL holdings also coincides with a shift in the broader crypto space toward platforms with scalability and strong developer ecosystems. DeFi Dev Corp’s latest move not only highlights Solana’s continued relevance but also serves as a reminder of the increasing institutional confidence in the blockchain’s future. Such events typically have a positive impact on price as institutional interest grows, adding long-term value and supporting price momentum.

Solana Price Eyes a Strong Bullish Breakout

Solana price is showing signs of a potential bullish breakout, as the price consolidates within a symmetrical triangle formation on the 4-hour chart. As analyst Disrupt Yourself points out, SOL is primed for a push higher in the next 24 to 48 hours. The breakout from this pattern could lead to a substantial upward move, with the chart signaling that SOL is gaining strength after days of consolidation.

Solana forms a bullish symmetrical triangle on the 4H chart, with breakout potential targeting $170. Source: Disrupt Yourself via X

The recent technical setup aligns with growing interest in Solana, highlighted by DeFi Dev Corp’s increased exposure to SOL. With institutional confidence building in the ecosystem, Solana is positioning itself for stronger price action, especially if the breakout from this triangle formation materializes. Once Solana enters a breakout, it can quickly target the $170 mark, creating a strong recovery and a clear shift in momentum.

SOL Solana Price Faces Critical Support at $147.59

SOL Solana price is currently holding an important support level of $147.59, a price point that has consistently acted as a key point of interest according to recent data shared by analyst Ali Martinez. Although Solana currently trades at $153 but, this level of $147.59 represents a significant cluster in the UTXO realized price distribution, which indicates that many long-term holders are still underwater if the price slides back below this level.

Solana price holds firm above $147.59 support, a key level flagged to long-term holder cost basis. Source: Ali Martinez via X

However, the real challenge is whether SOL can maintain this support going forward. Holding the $147.59 level is crucial to prevent further downward pressure and set the stage for a potential rally. If SOL continues to hold this key level, it could establish a strong foundation for a move toward higher levels. As price action around this area is critical for SOL’s near-term outlook.

SOL Technical Outlook Hinges on $164 Break

After days of tight range trading, SOL is once again eyeing the $164 resistance, a level that has been acting as serious resistance for the upside. As highlighted by CW, price has tested this level multiple times but hasn’t yet managed a convincing break. The repeated rejection zones in the $163–$165 band have created a thick supply wall. Unless SOL clears this with force and volume, it risks staying stuck in the volatile range.

Solana tests $164 resistance once again, with a breakout potentially paving the way towards $190–$200. Source: CW via X

Meanwhile, a clean breakout above $164 opens up the path to $190 and potentially even $200, which aligns with the next major inefficiency zones. Volume remains low for now, but a surge on breakout would confirm buyers stepping in. On the downside, $147 to $150 still acts as key support. As long as SOL holds that floor and continues pressing against resistance, momentum is building pressure for an eventual breakout.

Institutional Narrative Strengthens Solana’s Path to $200

Solana just landed another notch on the institutional credibility belt. The famous ETF analyst, Eric Balchunas, highlights that the newly filed Truth Social Crypto Blue Chip ETF will include SOL alongside BTC, ETH, and a few others, allocating 8% of its portfolio directly to Solana. While BTC still commands the bulk at 70%, Solana’s inclusion confirms that it’s no longer just a speculative bet.

Solana secures 8% allocation in Truth Social’s Blue Chip ETF, signaling rising institutional trust. Source: Eric Balchunas via X

Zooming out, this ETF filing could act as a catalyst right as Solana attempts to break out the $164 level. A confirmed push above that range, fueled by increasing institutional flows and stronger ETF narratives, could set the stage for a swift rally toward the $190 to $200 zone. The technical setup is already in place. Now, with Wall Street backing, Solana price may finally have the momentum to turn breakout attempts into a sustained trend shift.

Final Thoughts: Solana Price Ready for $200?

Solana isn’t just riding a wave of hype; it’s building a solid foundation of real momentum. From DeFi Dev Corp doubling down on its SOL holdings to new ETF exposure led by Wall Street names, the signals are getting harder to ignore. These aren’t just short-term headlines; they represent a larger shift in how institutions view Solana.

If Solana’s price manages to flip the $164 barrier convincingly, the road to $190 to $200 opens up much faster. What’s different this time is the convergence of technical strength and institutional narrative. The charts show a breakout waiting to happen, and now the headlines are starting to back it.

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Filed under: Bitcoin - @ July 9, 2025 11:20 am