Solana Eyes $200 Breakout After 15% Monthly Surge

Solana has constantly followed a bullish path, and according to the data from TradingView, currently, it is trading at $181.39 with an addition of 2.52% in the past 24 hours, and in the same frame, its market capitalization has reached $300.79 after adding $6.09 billion

Yet in the past 7 days, the trading prices of SOL have grown by 11.66, and in the 30-day time frame, a surge of 15.26% has been noted; at the same it has been exchanging hands above 20-day, 50-day, 100-day, and 200-day exponential moving averages

Source: TradingView

Over the past 3 months Solana has exhibited a classic a recovery pattern after an extended downtrend in June where the price fell from above $200 to low near $130, this decline was followed by a steady followed phase in late June and early July which paved the way for a strong rally towards the $200 region in mid July

In the past 30 days, Solana has been consolidating between $170 and $190 after facing repeated rejection near $200 resistance; the 30-minute chart shows that short-term momentum has turned positive since August 03, with the price forming high lows and reclaiming the $180 zone

Solana eyeing a new resistance above $220

After analyzing the 52-week price chart of SOL/USD, it has been noted that it has moved through phases of rapid gains, deep corrections, and steady recoveries, from a strong rally in the last quarter of 2024 where price grew $80 to above $250 Solana later corrected sharply in the first quarter of 2025 bottoming near $120

Source: TradingView

This fall formed a descending channel, which SOL eventually broke in late June, mirroring the recovery phase. Yet technical indicators across all time frames seem to be reflecting continued bullish momentum, and if Solana succeeded in breaking $195 with strong volume in coming sessions there of higher chances of its surpassing $200 in next 8-10 trading sessions, and above the visible resistance are $220 followed by $240 with growing institutional interest on Solana.

However, in the past one hour, the total liquidation in Solana is $323.60k with $312.83k in long and $10.77k in short, yet in the past 24hours, total liquidation has reached $12.89million with $9.35 million in short and only $3.36 million

Despite immense bullishness in Solana prices, the market dominance is 12.58% reaching 2.51% as of writing. Market experts argue that the decline in dominance might hinder the price in the upcoming session, but at the same time, if bulls continue to pull prices up, it could grow, reaching a new high in terms of prices, market capitalization, and market capitalization

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