Analysts anticipate that the Solana price is poised for a short-term correction before embarking on a rally, with some projections pointing to a potential peak at around $360. This prediction is based on technical patterns, on-chain data analysis, and observations of institutional activity. 70/100 rating on SAG3 Labs’ technology outlook further supports this bullish anticipation. The price is currently showing signs of stagnating just below the $200 mark. Several chart analysts, including ali_charts, point to an imminent correction phase in Solana’s price and suggest a final buy-the-dip opportunity around the $190-mark before a significant surge to $360. This potential breakout is supported by several technical indicators like the ascending triangle pattern and Fibonacci targets suggesting that Solana’s value may reach up to $362. Other analysts, such as CryptosBatman, highlight an inverted head-and-shoulders breakout with a bullish fair value gap (FVG), predicting a retest of the bottom of the $178-$188 range before a further upward movement. The increase in open interest for SOL futures on August 14th and the launch of REX-Osprey Solana + Staking ETF (SSK) with an initial asset value of $182 million are also driving this bullish sentiment. Further bolstering the market, increased trading volume, reaching $15 billion during the past 24 hours, further indicates strong institutional interest in SOL.