Solana Price Consolidating Before A Breakout: New ATH Soon?

Solana Price has been ranging for a year and a half, while

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Solana
SOL

$197.65


5.25%

Solana
SOL


Price

$197.65

5.25% /24h





Volume in 24h

$9.88B
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Price 7d

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trenches have been off the chart active with $140 billion in DEX volume, according to DefiLlama. The Solana ETF decision is expected tomorrow and it could be a great catalyst for a run. It is expected to at least cause higher volatility. In the midst of it all, what can we learn from the latest price action of SOL?

Reclaiming that green line from the X post above will be a great start for bulls. The More Crypto Online are using Elliot Waves for their analysis. That is what those numbers and letters on their chart represent, following the old school idea that the market moves in “waves” of 3 and 5. Some traders have mastered it and have been profitable using this theory.

DISCOVER: Best Meme Coin ICOs to Invest in 2025

(Source – Tradingview, SOLBTC)

Before we analyse the SOL USD pair, let us look at how Solana price has been performing against

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Bitcoin
BTC

$110,918.04


1.08%

Bitcoin
BTC


Price

$110,918.04

1.08% /24h





Volume in 24h

$70.29B
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Price 7d

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.On this Daily timeframe we can see that price formed a bottom in the first half of 2025 and in the second half, so far, it has broken into bullish market structure with a Higher High achieved in September and a Higher Low that retested MA200. This is a great set-up for an upward continuation.

Solana Price Is In Pre-ATH Accumulation?

(Source – Tradingview, SOLUSD)

On the Weekly timeframe, Solana has been in an easily identifiable range between $120-$260. That is range spanning $140! We can see an SFP of 2021 ATH, followed by a deviation that placed the low for 2025. Moving Averages are in an uptrend and during the volatile Friday last week, price retested MA100 and the candle closed above MA50 again. It looks like a consolidation before a break of this range. And the untested area might remain untested if the low ($120) of this range remains unbroken. RSI can move up freely.

DISCOVER: Top 20 Crypto to Buy in 2025

(Source – Tradingview, SOLUSD)

Next, we will analyse the 1D chart. Here we can identify a few more support and resistance zones at ~$180 and ~$210. The moving averages are now in uptrend formation and MA200 acted as support over the past few days. RSI has been completely reset and is making its way to the upper half of its range.

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Will SOL Hit a New ATH Soon?

(Source – Tradingview, SOLUSD)

Last chart for today’s analysis will be on the 4H timeframe. We are able to see a bit more detail here on how last Friday painted the chart. Here we have a confirmed MSB. In last week’s article a sell-off scenario was discussed that would reject the deviation case. And that is what happened. The bearish orderblock happen to be a strong resistance and once price dropped below all Moving Averages – it went down with haste. For now, the $180 support level is holding. Though Solana Price has work to do – regain $220 and trade above all MAs, before a stronger upward impulse.

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