Solana (SOL) price today is trading around $245, holding steady after a strong rally from early September lows. The token has climbed above key support at $219, testing upper resistance levels near $253. Traders are debating whether SOL can extend its momentum toward $300 as technical and on-chain signals align with bullish analyst calls.
Solana Price Holds Rising Wedge Support
The daily chart shows SOL maintaining its broader rising wedge since May, with price currently pressing against the upper trendline. Resistance is concentrated near $253, a critical Fibonacci level that overlaps with supply from March. Support sits at $219, while deeper buffers remain at $199 and $175 where the 50-day and 100-day EMAs are clustered.
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On Balance Volume (OBV) has been climbing steadily, confirming that the rally is backed by strong buying interest. The MACD remains firmly bullish, reinforcing the view that momentum is still favoring the upside. A clear breakout above $253 would strengthen the case for an extension toward $272 and the December 2023 high at $296.
Analysts Highlight $300 Target
Market sentiment has turned increasingly optimistic. Prominent trader FOUR | Crypto Spaces noted that Solana’s structure points to a clear path back to its previous highs. “The setup is ready for a potential move to $300,” the strategist posted on X, sharing a chart that shows SOL forming a rounded breakout structure.
This bullish narrative builds on the idea that SOL is one of the strongest performers in the current cycle, with traders positioning for higher levels amid improving network activity and institutional flows.
On-Chain Data Shows Strong Inflows
On-chain spot flow data reinforces the bullish case. Net inflows surged to $41.2 million on September 14, the highest since July, as buyers accumulated aggressively into resistance. This marks a sharp shift from the net outflows that dominated earlier in the year, suggesting that capital rotation into Solana is gathering pace.
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The rise in inflows comes as open interest and trading volumes continue to climb, hinting at stronger conviction among both retail and institutional traders. Sustained inflows above $50 million would further strengthen the case for a breakout.
Technical Outlook For Solana Price
Key levels remain well-defined. On the upside, breaking above $253 would expose SOL to $272, followed by $296 and the psychological $300 barrier. A successful push beyond $300 would shift the medium-term structure firmly bullish, opening the path toward $320.
On the downside, losing $219 would weaken momentum, with risks of a pullback to $199. A failure to hold $199 could extend losses toward $175, where the 100-day EMA remains a critical line of defense.
Outlook: Will Solana Go Up?
The immediate outlook for Solana depends on whether bullish momentum can overcome the heavy resistance at $253. With on-chain inflows rising and analysts targeting $300, the bias leans upward, though overbought signals warn of potential cooling before the next leg higher.
As long as SOL holds above $219, the setup favors buyers, with $272–$300 as the next targets. A failure to defend support, however, could trigger a broader consolidation, delaying the push toward previous highs.
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