- Solana breakout targets $277–$320, with $218 resistance as key confirmation level.
- On-chain metrics show $11.5B TVL and $4.6B DEX volume, surpassing Ethereum.
- Alpenglow upgrade vote could cut block finality to 150ms, boosting network speed.
Solana (SOL) has broken out of a technical triangle pattern, setting its sights on higher levels with analysts pointing to $300 as the next target. The token is trading above $215 and sustaining upward momentum, supported by growing decentralized finance activity and a key upgrade proposal under community vote.
Solana Price Breakout and Technical Levels
Solana price has maintained an ascending trendline since March, with current trading near $215. Resistance remains close to $220, which has capped several attempts at further upside. According to analysis prepared by Ali Charts, Fibonacci extensions indicate $277 and $320 as potential targets if momentum continues above resistance.
The hourly chart shows SOL forming higher lows, which strengthens the bullish structure. A trendline at $212 provides immediate support, while $202 and $195 represent deeper corrective levels. According to an observation by Glassnode, price now trades near the mean at $210, with the next test at the +0.5σ band around $275.
Analysts stated that a confirmed break above $218 could open a path to $230 and later $250. Market data shows $1.63 billion in daily trading volume on Binance, while the MACD and RSI readings suggest positive momentum. Sr. Peters, a crypto analyst , remarked that $235 could be next, and then straight to new ATH, signaling expectations of continued upside toward $300.
On-Chain Growth and Network Upgrade
On-chain activity supports Solana’s technical setup. Total value locked reached $11.51 billion, close to all-time highs, with stablecoin capitalization at $12.17 billion. Daily decentralized exchange volume exceeded $4.6 billion, surpassing Ethereum’s $4.43 billion during the same period.
The community is also voting on the Alpenglow proposal (SIMD-0326), which seeks to reduce block finality from 12.8 seconds to 150 milliseconds. Developed by research group Anza, the proposal introduces Votor to improve transaction speeds. Early turnout showed over 10% of participation, with most votes in favor.
According to data from DeFiLlama, fundraising totals $315.76 million, while bridged value reached $56.55 billion. With rising network usage and technical strength, Solana’s price breakout from the triangle pattern points to potential continuation toward the $300 level.
