- Solana bounces back from $201 with strong momentum, but $211 remains the major hurdle before a breakout.
- Bullish structure holds firm as traders eye $222; all eyes on whether SOL can flip $211 into support.
- Institutional buying interest grows rapidly, fueling hopes of a potential rally despite recent price volatility.
Solana faces a crucial breakout test at $211 after a strong rebound from $201. As institutional giants line up massive buys, traders are watching closely—will SOL finally ignite the rally toward $222 and beyond?
$211 Rejection Sparks Volatility, But Bulls Regain Control
Solana opened at $205.04 on August 24, climbed to $207.12, and dropped to a low of $204.67 before closing at $207.05. As per analyst Ali Martinez, the 30-minute chart shows SOL faced early resistance at $208, triggering a decline toward $202.
The price consolidated between $202 and $204 before buyers stepped back in. A strong bullish move followed, testing $211. However, a sharp bearish rejection sent prices below $202 in minutes.Buyers jumped in around the $201 support level and quickly drove SOL back above $204.
The session ended with a bullish engulfing candle, confirming buyer strength.Support sits at $201 and $206, while resistance holds at $211, $216, and $222.
The grey projection on the chart points toward a potential rally if $211 flips to support. It outlines consolidation near $213 and $217 before a possible push to $222. Price structure within the $204–$211 range remains choppy, with wicks showing indecision and active sell zones above $210.T
Market Conditions and Institutional Focus on Solana
As of August 25, Solana trades at $197.35, down 3.53% in 24 hours but up 9.05% over 7 days.
Data from Binance reveals a recent drop from $210 to $197.28, accompanied by a 1.3M volume spike. The RSI slipped from 63.73 to 48.92, signaling momentum loss. The MACD confirmed bearish crossover, with histogram bars deepening in red.
Still, SOL remains in an ascending triangle on the 4-hour chart. Support holds firm near $190. Resistance aligns near $205. If Bitcoin stays stable, a breakout toward $230–$240 remains possible. Below $190, however, SOL may retest $178.
Despite short-term volatility, institutional appetite is rising. As reported by Bitcoinsensus, Galaxy, Jump, and Multicoin Capital are seeking $1B to buy SOL. Sharps Technology (Nasdaq: STSS) announced a $400M+ private placement, closing August 28. Part of the deal includes a $50M SOL purchase at a 15% discount via a signed LOI with the Solana Foundation.
