Solana’s price has recently shown strong signs of recovery, leading analysts to predict a bullish breakout that could see the SOL price surpass $200. With the broader market showing positive movement and institutional interest growing, the current momentum suggests that SOL may soon experience a substantial rise in value.
Is Solana Price Ready for a Bullish Breakout?
Solana price has been trading within a range-bound structure for several months, as seen between October 2024 and April 2025. During this time, the cryptocurrency established a significant support level around $147.48, and the price has repeatedly bounced back.
According to the analyst crypto general, the price movement now appears to form an ascending triangle pattern. This pattern typically signals a bullish continuation, with the potential for the price to break above the upper resistance level, which stands at $288.51.
The ascending triangle suggests that demand for Solana steadily increases as the price forms higher lows. This pattern is often interpreted as a sign of accumulation, where buyers gradually push the price higher in anticipation of a breakout. A decisive move above the resistance at $288.51 could trigger further upward momentum, potentially leading SOL towards the $350-$390 range in the coming months.
Institutional Adoption Could Propel Prices Higher
Another factor that could drive Solana’s price higher is the growing interest from institutional investors like the filings for Exchange-Traded Funds (ETFs) with the U.S. Securities and Exchange Commission (SEC), and these filings are awaiting approval. With the recent swearing-in of a new SEC chair, there is speculation that regulatory clarity could soon emerge, potentially driving more institutional funds into Solana and other cryptocurrencies.
Concurrently, the large number of deployments on the Solana blockchain, also points to increasing adoption and usage. As more developers build on the platform, the case for further growth in the value of SOL strengthens.
Renowned trader Peter Brandt has also pointed out that Solana may outperform Ethereum in the long run, which adds to the optimism surrounding its future performance. If institutional adoption ramps up, it could create more upward pressure on Solana’s price, potentially pushing it beyond the $200 mark.
Technical Indicators Suggest Bullish Outlook
Further supporting the bullish outlook, Solana’s price action has been accompanied by positive technical indicators, particularly the Bollinger Bands and the Falling Wedge pattern. The SOL price recently broke through the upper Bollinger Band, often considered a sign of increased volatility and momentum. When the price stays above the middle band (blue line), it typically signals sustained upward movement, indicating that the bullish trend could continue.
Moreover, a falling wedge pattern has also emerged in Solana’s chart. This pattern, a bullish reversal setup, is charactrized by converging trendlines, with lower highs and higher lows, suggesting a period of consolidation before a potential breakout.
Solana’s recent move above the upper trendline of this wedge could signal the start of a sharp upward move. After this breakout, analysts are now targeting $275 as a potential price zone, reflecting a substantial upside from the current price.
The post Analyst Predicts Solana Price Bullish Breakout To $200 appeared first on CoinGape.
