Solana (SOL) Price: Technical Analysis Points to Possible $360 Target
TLDR
Solana recently broke above the $200 level, trading at $207.52 with 3.41% gains
Analyst @ali_charts predicts SOL could reach $360 if current momentum continues
Key resistance levels to watch: $206-210, $250.26, $277.18, and $320.99
Strong support zone established between $176-185
SOL’s rally is supported by active DeFi protocols, NFT activity, and institutional investment
Solana has emerged as a standout performer in the cryptocurrency market, breaking through the $200 barrier while many other digital assets struggle to find direction. Currently trading at $207.52 with a 3.41% gain, SOL has captured the attention of traders and investors alike.
The recent price action shows SOL breaking out of a consolidation phase that had kept the price range-bound for some time. This breakout signals renewed buyer interest and potential for further upside movement.
Respected cryptocurrency analyst @ali_charts has issued a bullish prediction for Solana, suggesting the token could reach as high as $360 if the current momentum continues. This forecast is based on technical analysis and chart patterns that have preceded major rallies in the past.
I told you when to buy Solana $SOL. Now I’m telling you, hold it until $360! https://t.co/rVSo3KhjNZ pic.twitter.com/0h2hrEsJPS
— Ali (@ali_charts) August 23, 2025
The $200 level represents more than just a number for SOL. It serves as a psychological barrier that, once broken, often leads to accelerated price movement. The successful breach of this level has already triggered increased trading volume and market interest.
For traders looking at technical levels, SOL faces immediate resistance in the $206-210 range. If the price can establish itself firmly above this zone, the path to higher targets becomes clearer.
The next major resistance levels based on Fibonacci extensions sit at $250.26, $277.18, and $320.99. These price points will likely act as temporary barriers before SOL can approach the ambitious $360 target suggested by the analyst.
SOL’s Strong Foundation
What makes this potential rally different from purely speculative movements is the underlying strength of the Solana ecosystem. The network continues to host thriving DeFi protocols that process billions in transaction volume.
NFT activity on Solana remains robust, providing another use case that drives demand for the token. This practical utility distinguishes SOL from cryptocurrencies that lack real-world applications.
Institutional investors have also shown increasing interest in Solana, bringing more stability and liquidity to the market. This institutional backing provides a solid foundation for sustained price growth.
Critical Support and Resistance
While the outlook appears positive, prudent investors should keep an eye on the critical support zone between $176 and $185. As long as SOL maintains its position above this range, the bullish case remains intact.
A drop below this support level could invalidate the bullish scenario and potentially lead to a deeper correction. Risk management remains essential even in strongly trending markets.
The $250 mark represents not just a technical level but a psychological milestone. Breaking above this point could trigger FOMO (fear of missing out) buying from retail investors who have remained on the sidelines.
Such an influx of new buyers often accelerates price movements, sometimes causing assets to reach targets faster than analysis would suggest. This dynamic could help SOL reach the higher price targets if market sentiment remains positive.
Trading volume will be a key indicator to watch as SOL approaches these resistance levels. Increasing volume during breakouts would confirm the strength of the move and improve the chances of reaching higher targets.
The current SOL price of $207.52 represents a significant distance from the predicted $360 target, but cryptocurrency markets are known for their ability to move quickly when momentum builds.
SOL’s recent price action reflects growing confidence in the Solana blockchain’s technical capabilities and expanding ecosystem of applications.
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Filed under: Bitcoin - @ September 1, 2025 11:17 am