Solana (SOL) Price Prediction for July 23, 2025

Solana is pushing deeper into a key resistance region after breaking through a long-standing consolidation zone. Solana price today sits near $197.66, up nearly 9% this week, as bulls build momentum after invalidating multiple bearish structures. The move follows a clean breakout from a double cup-and-handle base and a reclaim of prior Smart Money CHoCH levels, placing SOL near the top of its current range.

What’s Happening With Solana’s Price?

On the daily timeframe, Solana completed a textbook multi-month cup-and-handle breakout between $135 and $180. The neckline retest around $158 has held, and price has since surged above all prior local highs into a fresh liquidity zone. This area which is between $195 and $217, has not been visited since January and includes high-volume rejection zones seen in December 2024.

Momentum remains strong across timeframes. The 4-hour candles show that price has consistently closed above the 20/50/100/200 EMAs, with the current level of $197.76 well above the 20 EMA ($188.25). Bollinger Bands have expanded, and the upper band now sits near $202.92, suggesting volatility has entered a breakout phase.

The Smart Money Concepts chart confirms the bullish shift. After reclaiming the CHoCH at $158 and pushing above previous BOS zones, SOL has now entered the lower boundary of the “Weak High” supply zone around $198–$217. This area aligns with the Fibonacci 0.618 retracement level at $217.28, making it the most critical upside region to watch.

Why Is the Solana Price Going Up Today?

Why Solana price going up today can be traced back to volume-driven bullish continuation patterns, reinforced by derivatives data and a macro-level structure breakout. According to Coinglass, open interest has surged to $11.03 billion, up 7.49% in the past 24 hours, while total volume has jumped 77.31% to $45.17B. This shows strong participation in the move and confirms buyer conviction.

Notably, the Binance SOL/USDT long/short ratio stands at 2.6088 (accounts) and 3.277 (positions), reflecting an aggressively long trader base. These metrics suggest that market sentiment remains bullish and that any minor pullback may be absorbed quickly by dip buyers.

On the intraday chart, RSI has cooled to 50.52 after peaking above 70, showing consolidation within overbought conditions. MACD has also started to flatten, but histogram bars remain above zero, indicating bullish momentum is still present even after a minor correction.

Bollinger Bands, EMAs, and Fibonacci Levels Highlight Next Break Zone

The 4-hour Bollinger Bands continue to expand, reflecting strong price aggression. Price action is sitting above the midline band at $185.99 and approaching the upper band near $202.92. This setup favors trend continuation, especially since the EMA ribbon (20/50/100/200) is now fully stacked bullishly.

The weekly chart adds further confluence. Solana has now cleared the 0.5 Fibonacci retracement level ($194) and is approaching the critical 0.618 level at $217.28. A weekly candle close above $217 would validate a long-term reversal and open the door to $251.32 (Fib 0.786), followed by the $294 high from November 2024.

SOL Price Prediction: Short-Term Outlook (24h)

Solana price action remains bullish, but the next 24 hours will be critical as it tests the top of the current range near $200. A clean 4H or daily close above $202.92 could trigger a fresh leg toward $217. Failing that, price may revisit the $188.25–$185 zone, where multiple EMA supports and prior breakout levels converge.

If $185 fails, a deeper correction could target $178.75 and then $170.09. However, with macro structure favoring the bulls and open interest rising, any dip into this support cluster is more likely to be temporary consolidation.

As long as price holds above the $185–$188 zone and derivatives metrics continue trending higher, the near-term bias remains in favor of buyers.

Solana Price Forecast Table: July 23, 2025