Solana Price Tops $200, Eyes July’s $206 Peak
Solana price surged past the $200 mark, reclaiming a key psychological level amid renewed altcoin optimism. Over the past 24 hours, SOL jumped 15.4% to trade near $201.71, with intraday swings between $174.20 and $201.58. Breaking $200 removed major barriers, leaving the July high of $206.32 as the next resistance.
Technical indicators show support at $195.26 and critical levels between $187.71 and $184.67. A breach below $173.43 would signal a medium-term reversal toward the June–August trendline near $163.37. However, the hourly MACD is bullish and RSI sits above 50, confirming positive momentum.
On-chain metrics reveal heightened whale activity, with over 226,000 SOL moved to exchanges in recent days. Notably, one large holder sold 71% of its SOL, while an Alameda Research wallet unstaked $35 million worth of SOL, adding short-term supply. Despite these pressures, the net position metric remains supportive above the $170 mark.
Traders should watch the $170 support and the $206.32 resistance. A successful breakout above $206.32 may propel Solana price toward the March 2024 peak at $210.18 or higher targets at $222.66 and $230.32. A failure to hold $170 could trigger deeper corrections.
Bullish
Solana price crossing $200 marks a significant technical and psychological milestone. Historically, breaches of key round-number levels often trigger further buying as traders and algorithms pile in. The bullish MACD and RSI readings reinforce upward momentum, and the lack of strong resistance until the July high at $206.32 suggests room for continuation. Similar breakouts occurred in late 2023, when SOL surpassing $150 spurred rallies to new highs.
Moreover, market sentiment across altcoins remains constructive, and on-chain growth indicators support a bullish outlook. Although large whales and Alameda Research’s unstaking introduce short-term supply pressures, these sell-offs have so far been absorbed without triggering price reversals. Holding above the $170 support zone underscores underlying strength.
In the short term, a sustained close above $206.32 could attract fresh capital, driving SOL toward targets at $210 and beyond. In the long run, positive network fundamentals and increasing institutional interest could underpin further appreciation. Therefore, on balance, the news leans bullish, despite pockets of supply risk.