Hello everyone, Solana has drawn attention as its price remains steady around 234 USD, despite minor profit-taking in the broader market. The overall picture remains positive, supported by renewed institutional inflows and a weakening USD, providing a foundation for further gains.
Globally, concerns over the US government shutdown and expectations of a rate cut from the Fed are weighing on the dollar, while appetite for decentralised assets like Bitcoin and Solana is rising. Major investment firms such as Grayscale and MicroStrategy continue to accumulate, helping capital spread to ecosystems with strong fundamentals – particularly Solana, where DeFi and NFT activity remain vibrant. These macro factors are clearly supportive of further upside momentum.
From a technical standpoint, SOL maintains a clear bullish structure. It continues to trade above Ichimoku’s cloud support, signalling that buyers remain in control. The 230–232 USD zone acts as a key cushion, followed by 228–230 USD and deeper 221–223 USD levels, where previous Fair Value Gaps (FVG) have been filled. On the upside, resistance lies near 236 USD; once cleared, targets extend to 240 and 245 USD. Rising trading volume during recent upward moves reinforces this trend, showing that demand remains strong.
In the preferred scenario, Solana may dip slightly to retest 230–232 USD before bouncing higher toward 236 and 240 USD. A break above 240 could open the way to 245 USD. If price slips below 228 USD, a deeper pullback to 223 USD may follow before recovery.
So, what do you think — will SOL have enough strength to break above 240 USD this week?
Globally, concerns over the US government shutdown and expectations of a rate cut from the Fed are weighing on the dollar, while appetite for decentralised assets like Bitcoin and Solana is rising. Major investment firms such as Grayscale and MicroStrategy continue to accumulate, helping capital spread to ecosystems with strong fundamentals – particularly Solana, where DeFi and NFT activity remain vibrant. These macro factors are clearly supportive of further upside momentum.
From a technical standpoint, SOL maintains a clear bullish structure. It continues to trade above Ichimoku’s cloud support, signalling that buyers remain in control. The 230–232 USD zone acts as a key cushion, followed by 228–230 USD and deeper 221–223 USD levels, where previous Fair Value Gaps (FVG) have been filled. On the upside, resistance lies near 236 USD; once cleared, targets extend to 240 and 245 USD. Rising trading volume during recent upward moves reinforces this trend, showing that demand remains strong.
In the preferred scenario, Solana may dip slightly to retest 230–232 USD before bouncing higher toward 236 and 240 USD. A break above 240 could open the way to 245 USD. If price slips below 228 USD, a deeper pullback to 223 USD may follow before recovery.
So, what do you think — will SOL have enough strength to break above 240 USD this week?
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.