Solana bulls eye $250 breakout while major supply zone looms
Solana (SOL) posted a 4% surge, lifting its price toward the $245–$250 range, where a critical resistance level is now being tested. The move has strengthened bullish sentiment, but traders caution that the next few sessions will be decisive in determining whether Solana can break higher or face rejection at this supply zone.
On the daily chart, Solana has been in a steady uptrend since reclaiming support near $120 in June. After consolidating between $180 and $200, the breakout in September has pushed SOL closer to multi-month highs.
The chart highlights a strong supply area between $245 and $280, which has previously triggered sell-offs. A decisive close above $250 could open the door to further gains toward $280 and $300, marking a major bullish continuation.
Meanwhile, downside support remains strong around $200, with deeper protection near $165–$170. Analysts note that as long as these levels hold, the broader structure for Solana remains bullish.
BITX Market strategists emphasize that Solana’s resilience is drawing fresh interest. “The $245–$250 zone is a critical supply barrier. If bulls manage to flip this area into support, SOL has the potential to rally toward $300 in the coming weeks.”
According to BITX the importance of volume: “Breakouts without significant trading activity often fail. Investors should watch whether Solana clears $250 with strong conviction.”
Solana’s 4% surge reflects growing momentum, but the challenge lies in overcoming the $245–$250 resistance zone. If buyers sustain pressure and reclaim this level, the path toward $280 and beyond becomes increasingly likely. For now, holding above $200 support remains essential to preserve Solana’s bullish outlook.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.