Solana Price Breakout Imminent? Analysts Say $160 Reclaim Is Just the Beginning

As the broader crypto market moves sideways, Solana (SOL) is quietly setting up for what analysts believe could be a significant breakout. Hovering between $145 and $155, the altcoin is consolidating in a symmetrical triangle pattern that could catapult it past the $160 resistance — a crucial level that may serve as the springboard for a retest of the $200 zone.

Following a brief dip below $130 in late June, Solana staged a notable recovery, fueled in part by the launch of a Solana-staked Exchange-Traded Fund (ETF) in the United States. This ETF, launched by REX Financial and Osprey Funds, has recorded net inflows of $41.2 million since July 2, signaling growing investor confidence in the Layer-1 blockchain.

Technical Breakdown: Triangle Formation and Support Levels

Market analyst Ali Martinez pointed out that Solana has formed a symmetrical triangle pattern on its 1-hour chart. A breakout above the $153 threshold could push SOL up by 8%, reaching $164. Martinez emphasized the significance of this formation, noting that “if you’re not watching Solana, you’re asleep.”

Another prominent analyst, Carl Runefelt, echoed similar sentiments, suggesting that SOL is “about to break off” from the triangle and test the $162 resistance level. This aligns with data from The Cryptonomist, which confirms SOL has already broken above a multi-day diagonal resistance, now retesting $147 as a new support level.

Support zones have become critical in this consolidation phase. According to Martinez, $147.59 is a key level to watch. A sustained break below this could trigger a deeper correction towards $141.91 — a sentiment echoed by the analyst Man of Bitcoin, who cautioned that failing to hold this level might signal a new leg down in a wave-C correction.

$160: The Gateway to $200 and Beyond?

Crypto commentator Crypto Jelle highlighted that Solana is still comfortably trading within its long-term macro range of $125 to $180. He believes that once SOL reclaims the $160 mark, a surge to $200 could follow quickly, with new all-time highs possibly within reach if Bitcoin leads a broader market breakout.

At the time of writing, SOL is trading at $152.70, marking a 2.2% gain in the past 24 hours and a 3.6% rise over the week. The asset’s market capitalization stands near $82 billion, with over $4 billion in daily trading volume — signs of increasing investor activity.

The Growing Solana Ecosystem

Beyond price action, Solana’s fundamentals are gaining strength. According to DeFi tracking platform DeFiLlama, the total value locked (TVL) in Solana’s decentralized finance (DeFi) protocols has climbed to $8.7 billion — a 1.2% gain in 24 hours. Jito, a liquid staking protocol, leads the pack with $2.7 billion in TVL.

The recent launch of the Solana Spot and Staking ETF (SSK) has also injected fresh capital into the ecosystem. Despite regulatory hurdles, the U.S. Securities and Exchange Commission (SEC) has requested applicants to resubmit their filings, hinting at a possible early approval of SOL-based financial products.

Bottom Line

As Solana tightens within a bullish triangle pattern, all eyes are on the $153-$160 resistance range. With ETF inflows, growing DeFi activity, and strong technical indicators aligning, the stage appears set for SOL to reclaim $160 and potentially set a course toward $200. If market conditions remain favorable, the second half of 2025 could mark a significant chapter in Solana’s ascent.