Solana is approaching a key resistance level of $260, with analysts predicting a breakout could propel the token towards a multi-month bullish rally to $520. Strong on-chain growth and technical indicators are fueling this optimistic outlook. 📈
Trading near $229, Solana continues its steady uptrend as traders watch for a weekly close above $260. This pivotal level could trigger a sustained upward movement that aligns with analysts’ predictions.
According to expert analysis by Ali Charts, Solana’s weekly chart displays a strong recovery pattern following the 2022 decline. Price action peaked near $260 in late 2021 before falling below $40 in 2022 and recapturing strength through 2025. A confirmed close above $260 could ignite a Solana bull rally to $520, signaling a sustained upward trend.
On-chain data supports this bullish momentum. Solana’s Total Value Locked (TVL) surged to $12.647 billion last week, while stablecoin market capitalization reached $15.115 billion, highlighting strong network liquidity. Decentralized exchange volumes totaled $4.126 billion, indicating an expansion of DeFi activity.
Technical indicators reinforce the bullish trend.
* A positive MACD histogram signifies rising momentum.
* Solana trades above major moving averages, with the 50-day SMA at $212.82 and the 200-day SMA at $169.20, further bolstering this uptrend.
Analysts from ZYN highlight potential for a rally to the $280-$300 range based on historical price behavior. The latest trading pattern suggests continued movement in that direction, aligning with Ali Charts’ projections.