Solana Price Prediction: SOL Bulls Target Breakout Above $145 Soon!
Solana’s Bullish Momentum: Key Support and Potential Breakout Ahead
Solana is currently maintaining its position above crucial support levels, with signs of increasing bullish momentum as it nears a possible breakout above $145, targeting cycle-high levels.
Stability Returns for Solana Amidst Price Fluctuations
After experiencing weeks of erratic price movements, Solana is beginning to stabilize. As of June 24, 2025, the cryptocurrency is trading around $144, with market participants closely monitoring its ability to convert resistance into support, which could trigger a significant upward movement.
Is This Solana’s Final Surge Before Cycle Peaks?
Solana is clinging to essential support, potentially signaling a calm before a final upward surge. Analyst insights suggest that the cryptocurrency still has one more bullish phase left, contingent on the $109 support level holding firm. According to Elliott Wave analysis, Solana is currently in a wave 4 correction phase.
If this support zone remains intact, a fifth wave extension could propel the price into the $270 to $320 range, aligning with common targets for cycle peaks.
Currently, Solana is positioned near the 61.8% retracement level of its previous wave. Analysts warn that a drop below $109 would invalidate the bullish structure and shift the outlook toward a bearish trend.
Solana’s Price Aims for Breakout Above $145
In addition to long-term bullish signals, Solana’s short-term trend is also beginning to show positive signs. Recent analysis indicates that the $145 level is acting as a local resistance point on the 4-hour chart, situated around a previous support-turned-resistance area. If Solana can convert this level into support, the next targets for upward movement are $165 and $179, which correspond to earlier breakdown levels.
The chart indicates a clear descending trendline that Solana has already tested. A confirmed breakout above both this trendline and the $145 resistance would signal a short-term reversal.
Short Squeeze Sparks Momentum Shift for Solana
Recently, Solana experienced a significant short squeeze, with over $20 million in short positions liquidated within a 24-hour period. The largest single liquidation occurred at the $141 level, triggered by a sharp market rally. Such liquidation events often mark pivotal moments, as they can eliminate bearish positions and introduce fresh buying momentum. With short sellers exiting and new buyers entering, Solana is gaining the volatility needed to break through key resistance levels like $145.
Technical Analysis of Solana’s Current Outlook
After a period of volatility, Solana appears to be establishing a new support base, with the latest weekly structure suggesting a potential recovery path. Recent charts show Solana bouncing off a demand zone between $120 and $125.
The current weekly candle structure indicates a reclaiming of mid-range support, hinting at a possible continuation upward if bullish sentiment persists. The price is also adhering to a well-defined horizontal range, with projections suggesting a move toward the $160 to $170 area, which aligns with previous weekly supply levels.
This technical setup coincides with Solana testing critical confluence points on the chart. The horizontal resistance near $150, which was previously a breakdown level, now represents a significant hurdle. Successfully flipping this level into support could pave the way for a larger upward movement, targeting the upper range near $180.
Final Thoughts: Are Bulls Ready to Take Charge?
Solana is at a crucial juncture, with support holding strong around the $120 to $125 range and a significant number of short positions already liquidated. The conditions are ripe for a new upward leg. The charts indicate a potential breakout above $145, supported by shifting market sentiment.
Short-term traders are increasingly optimistic, and if the current trend continues, Solana could reclaim lost ground and challenge the $160 to $170 range. Furthermore, if Solana can maintain its position above $109 and reclaim key levels like $150 and $165, it could set the stage for a move toward $270 and beyond. The momentum appears to be favoring the bulls.
