Solana Price Breakout? Analyst Flags Most Important Level to Watch

Crypto analyst Ali Charts says Solana (SOL) price is trading close to a major support level at $180.

This price zone could decide whether SOL moves up toward $240 or drops lower.

The level aligns with the 200-day moving average, lending strength to its role as a key support area.

Analyst Identifies Solana’s Main Support Zone

Solana (SOL) price is sitting near $180, which analysts say is an important level to watch.

Ali Charts explained that this point is located at the bottom of a trading channel and aligns with the 200-day simple moving average.

This combination makes it a strong support area for the coin. He added that on-chain data shows that around 24.5 million SOL were purchased at a similar price.

This means many traders see it as a fair entry point, making it a strong demand zone. If this level holds, the Solana price could rise again; however, if it breaks below, it might fall significantly lower.

Ali Charts believes the $180 area is the main level that will shape Solana’s next direction.

If it stays above that mark, SOL price could climb toward $240 or even $290. If it drops below, the next support zones are around $115 and $50.

Ali Martinez also mentioned that $260 acts as resistance, while $115 and $50 are lower support points to watch.

More importantly, this view is shared by several traders who are keeping an eye on Solana’s movement around this level.

Solana Price Next Move Under Watch

Other market observers concur that Solana is at a pivotal moment. DonnieBTC, a trader on social media, notes that the Solana price is consolidating at key support levels.

This means investors are active around this level. In his post, he noted that the next move will set the tone for the coin’s short-term trend.

Another analyst, Donald Dean, noted that Solana is testing a trendline. He expects the next price target to be around $218.67, based on the 0.618 Fibonacci retracement level.

Dean also stated in his tweet that if the Solana price moves lower, $150 could serve as the next support.

Analysts note that the market could go either way, depending on how Solana responds in the coming days.

If the coin forms a base here, it might move upward. However, if selling pressure increases, it could slide further down the chart.

The mixed views show the uncertainty in the market. Some traders see a buying chance, while others prefer to wait for a clear breakout before taking a position.

Market Data Supports $216 Forecast for Solana

CoinMarketCap data show Solana price was trading around $186.69, down 14.95% in the last 24 hours. Its market cap stands at about $102.65 billion, with a 24-hour trading volume of $7.16 billion.

Market watchers believe that the current setup looks similar to Solana’s pattern in October 2023, just before a strong upward move.

If Solana breaks above the $210 to $220 range, it could start a new growth phase, with possible targets between $250 and $260.

This aligns with several analysts’ forecasts of a potential rise toward $216 and beyond.

On-chain data also supports this outlook. A large wallet has recently added 44,000 SOL, bringing its total to 844,000 SOL, which is worth approximately $149 million.

This, along with steady exchange outflows and fewer short positions, shows that some large holders still have faith in the asset.

For now, all eyes remain on the $180 level. A rebound could mark the start of another upward phase, while a breakdown might open the way for a move toward $150 or lower.

Traders continue to watch these zones as the Solana price decides its next direction in the market.