Solana Could Skyrocket To $500 This Bull Run: Analyst

Solana is currently trading at $197.79, down 0.5% in the last 24 hours. However, it is 18% up in the past week and is close to 50% gains over the past month. 

$400 In Sight For SOL?

Solana recently broke above $200 for the first time in 5 months, with its market cap topping $105 billion. Its TVL surged close to $10 billion after an $800 million inflow, thanks to its rising staking activity. The ETF hype is also heating up as prediction markets now see a 99% chance of a spot SOL ETF in 2025.

Analyst Christiaan Defi says that Solana is setting up for a big move. The chart shows strong support around $196, and if it breaks past $254, it could climb fast. He is targeting $400-$500 in the bull run with the trend showing higher lows and solid momentum.

According to analyst Ali Martinez, the AI model Grok sees Solana as the top altcoin to watch for 2025. It has a 14% chance of being the best performer next year, higher than any other coin Grok analyzed.

Solana’s Booming Ecosystem

Solana stands out as a fast and scalable Layer 1, with a booming meme coin scene that is driving viral, community-led adoption. Recent upgrades like Alpenglow have boosted its tech, and a possible ETF approval in 2025 could send it up 5–10x. Besides, there is also growing buzz on X around Solana’s Defi and NFT ecosystem, which is attracting more attention.

Solana’s ecosystem is also gaining serious momentum. Recently, in just 24 hours, the NFT trading volume topped $2 million, which was the highest in 113 days. Meanwhile, tokenized stocks launched just 22 days ago have already crossed $300 million in total transaction volume, showing strong early demand and growing on-chain activity.

Breakout or Crash?

Martinez notes that Solana has broken out of an ascending triangle, which is a bullish pattern. This breakout confirms a bullish shift with price targets between $300 and $360. From an on-chain view, key support levels sit at $189 and $177.

However, one analyst warns that Solana could turn into this cycle’s “LUNA.” He notes that its breaking down against major altcoins like BTC, ETH, ADA, and XRP on high timeframes. He points to clear bearish divergence, downtrends, and rejection at moving averages, with no signs of recovery.

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However, others are optimistic about SOL. Analyst Daan Crypto noted that it has broken above the key $180 level and is showing strong follow-through. The trend clearly favors the bulls, and from here, it’s all about forming higher highs and higher lows to keep the momentum going.

According to @StackingUSD, the next key area to watch for Solana is the $248-259 range, especially if it can break above the $216 resistance. A rotation of capital from ETH to Solana, with possible Solana treasury news and ETF approval, could give it the boost it needs to reach the next major targets.

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