Analyst Calls SOL a Buy Before Potential $360 Rally

TL;DR

• Solana trades at $181, holding above $176 help, with resistance marked at $205.
• Elliottwave evaluation exhibits a double correction with help close to $164–$157 and invalidation at $195.
• EU considers Solana or Ethereum for digital euro launch, elevating accessibility and privateness questions.

Solana Value and Analyst Outlook

Solana (SOL) was priced at $181 at press time, with a every day buying and selling quantity of $4.55 billion. The token has fallen 1% within the final 24 hours and is down 8% over the previous week. Regardless of this decline, analyst Ali Martinez acknowledged, 

“Not a foul spot to start out loading Solana $SOL earlier than a breakout to $360.”

Ali’s chart exhibits Solana buying and selling in an ascending structure supported by increased lows since March. The token stays above the $176 help zone and faces resistance at $205. Fibonacci extension ranges mark reference factors at $250, $278, $320, and $362. Solana continues to maneuver between its rising trendline and the resistance space.

Not a foul spot to start out loading Solana $SOL earlier than a breakout to $360. pic.twitter.com/N42zXpMzbT

— Ali (@ali_charts) August 21, 2025

Corrective Construction and Technical Readings

Elliottwave Forecast outlined a corrective sample for Solana. The chart locations SOL at $167 inside a double correction (W–X–Y) formation. Help is projected between $164 and $157, whereas an invalidation degree is famous at $195. The replace added, “We Do Not Advocate Promoting,” specializing in the corrective setup.

Based mostly on indicators, the 9-day shifting common stands at $185, whereas the 21-day shifting common is at $179. The value of Solana is between the 2 averages, which implies that the boldness over the quick time period is ongoing, however there isn’t a specific path.

The Relative Power Index (RSI) is at 50, which signifies a impartial stance of the market. In July, the RSI rose to above 70, indicating a busy shopping for interval then.

Spot Market Exercise

CryptoQuant knowledge exhibits Solana’s Spot Taker Cumulative Quantity Delta (CVD). From November 2024 to February 2025, shopping for was dominant, supporting increased costs. Between March and Could 2025, promoting exercise was stronger, and costs moved decrease.

In June and July 2025, the CVD was principally impartial, with a brief shopping for section. By August 2025, the information exhibits stronger promoting stress whereas Solana trades close to $180.

Broader Market Growth

The European Union is assessing whether or not to launch the digital euro undertaking on Ethereum or Solana as an alternative of a personal chain. A rollout on a public blockchain might enhance accessibility, although issues stay over privateness and safety.