Analyst Predicts Solana’s Soaring Future: Will It Really Hit $360? 🤔💰

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In Brief

  • Solana is currently prancing about at $181, valiantly clinging to its $176 support, while eyeing the lofty heights of $205.
  • According to the ever-optimistic Elliottwave analysis, we find ourselves in a double correction, with support lurking around $164-$157 and a rather rude invalidation at $195.
  • The EU is pondering whether to grace Solana or Ethereum with the honor of launching its digital euro, raising delightful questions about accessibility and privacy-because who doesn’t love a good conundrum?

Solana’s Price and Analyst Prognostications

As of the latest gossip, Solana (SOL) is strutting its stuff at $181, with a daily trading volume that would make even the most seasoned trader blush-$4.55 billion, to be precise. Alas, it has taken a slight tumble of 1% in the last 24 hours and is down a rather dramatic 8% over the past week. Yet, our ever-hopeful analyst, Ali Martinez, chirps,

“Not a bad spot to start loading Solana $SOL before a breakout to $360.”

Ali’s chart reveals Solana engaged in a rather elegant ascending structure, supported by higher lows since March. It remains above the $176 support zone, while the resistance at $205 looms like a distant mountain peak. Fibonacci extension levels, those mystical markers, suggest reference points at $250, $278, $320, and $362. Solana continues its dance between the rising trendline and the resistance area, like a hopeful suitor at a ball.

Not a bad spot to start loading Solana $SOL before a breakout to $360.

– Ali (@ali_charts) August 21, 2025

Corrective Structure and Technical Musings

The Elliottwave Forecast has graciously outlined a corrective pattern for our dear Solana. The chart places SOL at $167 within a double correction (W-X-Y) formation, which sounds rather like a dance move, doesn’t it? Support is projected between $164 and $157, while an invalidation level is noted at $195-because who doesn’t love a good cliffhanger? The update added, “We Do Not Recommend Selling,” focusing on the corrective setup, which is a relief, as selling is so last season.

Indicators reveal that the 9-day moving average stands at $185, while the 21-day moving average is at $179. Solana finds itself nestled between these two averages, suggesting a confidence that is ongoing but lacks a particular direction-much like a politician at a press conference.

The Relative Strength Index (RSI) is at a neutral 50, indicating that the market is currently as lively as a Sunday afternoon tea. In July, the RSI soared above 70, indicating a rather frenzied buying spree, which is now but a distant memory.

Spot Market Shenanigans

CryptoQuant data reveals Solana’s Spot Taker Cumulative Volume Delta (CVD). From November 2024 to February 2025, buying was the name of the game, supporting higher prices. However, between March and May 2025, selling activity took center stage, and prices took a nosedive.

In June and July 2025, the CVD was mostly neutral, with a brief buying phase that was as exciting as watching paint dry. By August 2025, the data indicates stronger selling pressure while Solana trades near $180, which is just delightful.

Broader Market Developments

The European Union is currently in a state of existential crisis, assessing whether to launch the digital euro project on Ethereum or Solana, rather than a private chain. A rollout on a public blockchain could improve accessibility, though concerns over privacy and security remain-because who doesn’t love a good debate over digital currency?

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2025-08-22 19:06