- Solana reclaims $216, targets $238, with ATH as the next major resistance ahead.
- Institutional accumulation and $13B DeFi TVL fuel Solana’s ongoing upward momentum.
- Analysts note holding above $233 could open the path toward a $457 long-term target.
Solana (SOL) continues to display strength after reclaiming the key $216 resistance level. Price action has extended toward $238, marking the next important level before the all-time high comes into play. Pullbacks toward $216 could create a resistance-turned-support flip, strengthening the structure for further upward continuation in the current rally.
Solana Breaks Resistance and Eyes $238 Target
According to an analysis prepared by Lennart Snyder, Solana has reclaimed the $216 level, which had been a critical barrier in earlier sessions. The token now trades near $239 at the time of writing, with buyers pushing toward the $238 resistance zone.
The chart structure shows consistent higher lows since April 2025, reflecting steady accumulation and continuation of the bullish trend. Once $238 is cleared, the only major resistance left is the all-time high level.
Short-term retracements remain part of the current cycle, with $216 expected to serve as an important support zone. According to Henry, “Solana started its rally, and I will not be surprised by a small pullback. This is part of the cycle.” Traders continue to monitor $216 closely for potential flips into support, which could provide renewed strength for the next leg higher.
Institutional Activity and DeFi Growth Support Rally
Galaxy Digital has been increasing its Solana exposure. According to data shared by SolanaFloor, the firm purchased 1.35 million SOL worth $302 million in 12 hours. This large-scale accumulation has reinforced market demand and contributed to Solana’s recent upward momentum.
Institutional interest has also expanded through treasury allocations. Several firms, including Sharps Technology and DeFi Development Corp, have increased holdings, signaling broader adoption. At the same time, Solana’s DeFi ecosystem has surpassed $13 billion in Total Value Locked, reaching its highest level to date.
Analyst Javon Marks observed that a stable close above $233 could trigger a breakout toward higher levels. He noted that if Solana maintains control above current supports, it may progress toward $457 in the longer term.
