{"id":6494,"date":"2025-08-31T17:00:39","date_gmt":"2025-08-31T17:00:39","guid":{"rendered":"https:\/\/coinstrend.net\/blog\/solana-price-holds-stronger-than-bitcoin-sets-stage-for-breakout-to-240\/"},"modified":"2025-08-31T17:00:39","modified_gmt":"2025-08-31T17:00:39","slug":"solana-price-holds-stronger-than-bitcoin-sets-stage-for-breakout-to-240","status":"publish","type":"post","link":"https:\/\/coinstrend.net\/blog\/solana-price-holds-stronger-than-bitcoin-sets-stage-for-breakout-to-240\/","title":{"rendered":"Solana Price Holds Stronger Than Bitcoin Sets Stage For Breakout To $240"},"content":{"rendered":"

Solana’s price action has shown some sort of resilience in the past few days while much of the cryptocurrency market turned red. After surging past $210 to reach as high as $218 on August 29, SOL briefly dipped below $200 but quickly stabilized, outperforming major large-cap assets such as Bitcoin, which has been locked in a decline since August 14.\u00a0<\/p>\n

This has put Solana in an interesting position, and technical analysis shows its correction phase is constructive and could prepare the token for another breakout.<\/p>\n

Analyst Says Correction Is Important For Breakout<\/b><\/h2>\n

Crypto analyst RLinda on the TradingView platform managed to remain steady above $200 even after pulling back from a new multi-month high of $218, its highest price point since February.<\/p>\n

Although the multi-month high ultimately resulted in rejection and a downward move, Solana is doing much better than Bitcoin. According to on-chain analyst Ali Martinez, Solana investors realized close to $1 billion in profits immediately after the cryptocurrency broke past $210 before eventually reaching $218. Particularly, data from Glassnode shows realized profits spiking to over $911 million after Solana broke above this level.<\/p>\n

\"\"<\/p>\n

SOL Realized Profit: @ali_charts on X<\/i><\/a><\/p>\n

According to RLinda\u2019s analysis, the ongoing correction is not a reversal but rather a consolidation stage and there’s likely going to be a liquidity test between $202.5 and $195.3. However, the analyst noted that the outlook will remain positive as long as buyers can defend the $200 level during this corrective move. This, in turn, will pave the way for a breakout from $200 up to $240.\u00a0<\/p>\n

\"\"<\/p>\n

Chart Image From TradingView: RLinda<\/i><\/a><\/p>\n

What\u2019s Next For Solana?<\/b><\/h2>\n

The last two times Solana broke above $200 this month, it entered into an ensuing correction that brought its price action below $180. However, the most recent break, which led to a peak at $218, has managed to hold above $200. The formation of higher highs and higher lows shows that sellers are losing their grip and are now unable to force the token back under $200. Therefore, the bullish outlook from here is the formation of another higher high, with RLinda pointing to $240 as the next target.<\/p>\n

<\/p>\n

Reaching $240 would translate to a new peak since January. However, RLinda also highlighted resistance levels at $216.5 and $220 before reaching this target, and then a final resistance at $244 should the higher high extend past $240.<\/a><\/p>\n

On the other hand, the analyst also noted support levels at $202.5, $198, and $195.3. The overall expectation is that Solana could resume its bullish trading trajectory once the correction slows down and bounces at either of these levels.\u00a0<\/p>\n

At the time of writing, Solana is trading at $205, up by 1.6% in the past 24 hours.\u00a0<\/p>\n

Featured image from Getty Images, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Solana’s price action has shown some sort of resilience in the past few days while much of the cryptocurrency market turned red. After surging past $210 to reach as high as $218 on August 29, SOL briefly dipped below $200 but quickly stabilized, outperforming major large-cap assets such as Bitcoin, which has been locked in…<\/p>\n","protected":false},"author":1,"featured_media":6495,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[621],"tags":[45,36,216,42,24,47,25,52,177,178],"class_list":["post-6494","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin","tag-altcoin","tag-bitcoin","tag-blockchain","tag-btc","tag-crypto","tag-crypto-market","tag-crypto-news","tag-cryptocurrency","tag-sol","tag-solana"],"_links":{"self":[{"href":"https:\/\/coinstrend.net\/blog\/wp-json\/wp\/v2\/posts\/6494","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinstrend.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinstrend.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinstrend.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coinstrend.net\/blog\/wp-json\/wp\/v2\/comments?post=6494"}],"version-history":[{"count":0,"href":"https:\/\/coinstrend.net\/blog\/wp-json\/wp\/v2\/posts\/6494\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinstrend.net\/blog\/wp-json\/wp\/v2\/media\/6495"}],"wp:attachment":[{"href":"https:\/\/coinstrend.net\/blog\/wp-json\/wp\/v2\/media?parent=6494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinstrend.net\/blog\/wp-json\/wp\/v2\/categories?post=6494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinstrend.net\/blog\/wp-json\/wp\/v2\/tags?post=6494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}