Solana Price Surges Past $200: Is $300 the Next Target?

Solana Crosses $200 Mark — Is a Jump to $300 Coming Next?

Solana (SOL) price has surged past the $200 mark, gaining over 20% in the last seven days. This rally marks the first time since February that SOL has broken this key psychological barrier. The price jump was fueled by rising activity on Solana's network, particularly from meme coins like Pudgy Penguins and Dogwifhat, which both rose 20% over the past week.

Sol also overtook Binance Coin (BNB) to claim the fifth spot by market capitalization. Market analysts point to rising institutional interest and growing optimism around ETF inflows as key drivers. If this momentum continues, analysts believe SOL could target the $300 level next. T

Ali Predicts Strong Upside for Solana Price After Breakout

A crypto analyst Ali, has predicted one of the significant rallies in Solana price, with the possible action targets at prices between $300 to $360. The breakout on the chart of Solana can be observed in the pattern of ascending triangle, which was followed by his prediction.

Source: Ali tweet

A type of bullish pattern, this setup is usually followed by further bullish action, and higher volume may indicate the breakout. SOL price has formed successive higher lows since April, as the chart indicates, and finally breached major resistance in the middle of July.

Crypto analysts are now looking at Solana price after an impressive presence to move higher past critical daily resistance. Analyst believes that this breakout can bring a steep price increase, and the price should be more than $370 in the near future. There exists a bullish momentum, and this has been backed by historical chart patterns and crucial technical levels indicating more upside gains.

The analysis of the charts indicates the Fibonacci extensions that are an indication of price zones that are high. As investor confidence and technical indicators are rising, it seems that Solana is returning into a new upward trend.

Solana ETF Approval Likely in 2025

The likelihood of Solana ETF being approved in 2025 increased to more than 99% based on data provided by Polymarket. On December 31, 2025, the market closed after a year of up and down investor sentiment and price volatility.

Source: polymarket

The predictive market had oscillating trends all throughout the year with values as low as 65% and as high as over 90%. A significant rise has been observed towards the end of June when the odds increased tremendously. The graph shows an upsurge of confidence by 25%, bringing the possibility of approval to being a close probability.

Will Bullish Trend Countinue?

The SOL price is trading at $202 as of July 22, marking a 3.53% gain on the day. The recent bullish momentum follows a breakout from a rising channel, suggesting strong buying pressure. The breakout is supported by a solid bounce from the $180 support level, now acting as a key floor.

The technical indicators show an increase in bullish sentiment. The Relative Strength Index (RSI) rests with 81.84 levels, deeply in overbought levels. This reading is positive sentiment and shows high momentum even if it also indicates a possible short term pull back or a consolidation.

Source: SOL/USD Daily Chart: TradingView

The MACD indicator remains positive and contributive on the up-trend. The MACD is strong indicating the bullish momentum as MACD line is above the signal line. The fact that the positive histogram bars are already rising further confirms that the momentum in purchases remains strong.

If upward momentum is sustained, the next barrier can be located around $250. Furthermore, a possible recovery could take the price up to $300. On the negative side, if the price fails to hold above $180, it can re-test the lower support zone