- Solana shows strong support at $171 with 12.4M tokens accumulated and traders eyeing $210 as the breakout trigger for the next rally.
- Buyers keep defending $171 while higher lows form, signaling bullish control as momentum builds toward a potential move past $210.
- If Solana clears $200 with volume, analysts see momentum lifting the price toward $270 while $171 remains the safety net for bulls.
Analysts are keeping a careful eye on the $171 support and $210 resistance levels as Solana approaches a pivotal moment in its price action. 12.4 million tokens have been purchased, indicating a significant accumulation at $171 in recent trading activity.
Buyers now consider this level to be a stable floor, boosting their faith in Solana’s tenacity. Analysts emphasize that a breakout above $210 can lead to a strong surge into higher price levels if bulls continue to hold control.
Strong Accumulation at Key Support
According to analyst Ali, the cost basis distribution between mid-July and mid-August shows consistent support near $171. The cost basis fluctuated within $171.64 and $172.12, reflecting the concentration of tokens acquired at this range. Additionally, the supply remained steady at 12.39 million SOL, indicating continued investor interest.
Source: Ali
The price fluctuated sharply throughout this time. July 22 recorded a spike in cost basis, followed by declines into early August. However, accumulation remained strong, with $171 acting as a stabilizing anchor. Moreover, this behavior reveals short-term speculative activity while confirming that long-term buyers continue to back Solana at lower levels.
Resistance at $210 Could Trigger Next Rally
Meanwhile, Henry, also known as LordOfAlts, explained that Solana remains in a range between $170 and $210. He noted repeated tests of support at $170, each followed by rebounds toward higher levels. Additionally, the formation of higher lows indicates that buyers still dominate.
Source: Henry
Currently, Solana trades near $190, approaching the resistance zone. If the price breaks above $200 and sustains volume, momentum could rapidly push it toward $270. Consequently, traders expect a “pump” scenario if the resistance finally gives way.
However, if Solana fails to hold $171, the token could revisit lower supports before attempting another move upward. Moreover, the market structure shows a clear consolidation phase, with volatility building before a decisive breakout.
