Key Insights
- Solana is testing strong support between $185 and $190, a range that has historically triggered renewed bullish momentum in prior cycles.
- Analysts forecast potential upside toward $295 and $400, with Elliott Wave and triangle patterns indicating continued upward movement.
- Institutional inflows exceeding $199 million highlight rising investor trust, reinforcing Solana’s strength within the broader crypto market.
Solana (SOL) trades in a narrowing range as it approaches a critical price zone that could determine its next trend. Market analysts indicate that the asset is testing a pivotal area between $185 and $190, where previous rebounds have triggered upward moves. The price structure shows a consistent formation of higher lows since early 2023, reinforcing steady demand along a long-term rising support line.
According to market analyst Mags, the ongoing structure forms part of a broad ascending triangle pattern that often precedes strong breakouts. Each retest near the horizontal resistance has signaled increasing buying interest, which may soon push prices beyond the current range. If the support area remains intact, Solana could rally toward the $400 level, continuing its broader bullish setup. However, a breakdown under the support zone might send prices lower toward $140, marking a shift in sentiment.
Elliott Wave Indicates Multi-Phase Upswing
Technical analyst NekoZ observes an Elliott Wave pattern that aligns with a multi-stage bullish cycle. After reaching a base near $95 to $100, Solana appears to have completed its initial impulsive wave and corrective phase. The analyst expects the next advance, known as Wave 3, to extend toward $295, a level aligned with Fibonacci retracement metrics. If momentum persists, the projected Wave 5 could lift prices toward $380, signaling renewed investor participation. Maintaining levels above $180 remains essential for preserving this bullish outlook.
Beyond technical indicators, recent data reveal growing institutional confidence in Solana. Figures shared by Coin Bureau show four consecutive days of ETF inflows totaling $199 million from October 28 to 31, 2025. Bitwise’s $197 million allocation underscores a shift in institutional exposure from Bitcoin and Ethereum toward Solana-linked products. Lower management fees, staking rewards, and seeding capital of $325.6 million contribute to the appeal of SOL ETFs as long-term investment vehicles. Sustained inflows could further strengthen Solana’s position in the market and confirm its ongoing momentum.
