Solana off on the charts like a champ ready to rumble. Right now, in the time of writing, it’s trading around $202 , cooling down just a bit after a small dip.
But on the other hand, this token’s up almost 12% from last week.
Be bullish, guys! The reason? A golden cross just formed on the SOL/BTC chart, a technical signal that’s as classic as pulling off a smooth getaway.
The short-term moving average crossed above the long-term one, telling traders the momentum’s shifting. It’s like the stock’s saying, get ready, something big’s coming.
Mixed market feelings
Expert say Solana’s inching up toward a resistance line at about 0.0020 BTC. And if that barrier breaks with the right volume?
That’s when the fireworks start. Otherwise, the price might just hang out, side-stepping below that line like a cat avoiding trouble.
Popular crypto expert Mikybull thinks a push past that level would confirm Solana’s strength, while failure means we’re stuck in a range-bound dance.
XHold up, though. The market’s got some quite mixed feelings. Daan Crypto Trades points out that big institutional players and new treasury vehicles boosted Solana’s rally, but warns that the rising wedge pattern looks a smug bit bearish.
$SOL Has been strong on the back of treasury vehicles being spun up and potential upcoming buying + frontrunning.
Chart is at an interesting spot. Currently testing resistance which has held for some time now.
Rising wedges are generally leaning bearish but in bull markets it's… pic.twitter.com/wC3qPhi89O
— Daan Crypto Trades (@DaanCrypto) August 28, 2025
Yet, in bull markets like this, those wedges tend to break up instead of down, kind of like pulling off a surprise rebound in the last quarter.
Heavy accumulation
Then there’s the cautious take from Sensei, who’s saying the sky-high $400-$500 predictions might be a stretch.
After all, token inflation’s there, and Solana’s market cap already topped its 2021 high. So don’t start booking yachts just yet.
Now, here’s some muscle behind the moves. On-chain data reveals heavy buying around $180, with about 18.56 million SOL, worth nearly $4 billion, accumulated by big players.
Another chunk near $189-$190 adds to this foundation, creating support that’s as solid as a corner office.
18.56 million Solana $SOL , worth nearly $4 billion, were accumulated at around $180! pic.twitter.com/1a0oi3cOFH
— Ali (@ali_charts) August 29, 2025
Plus, Solana busted out of a triangle pattern, pointing to a potential $300 target if the momentum sticks.
Bullish sentiment
Institutional interest? It’s lighting up the scoreboard. DeFi Development Corp just added over 400,000 SOL to its stash at $189 each, totaling 1.83 million SOL valued around $371 million.
And they’re not done, they’ve got $40 million in cash for more buys.
And don’t sleep on retail sentiment either. It’s the most bullish since February, with positive chatter outweighing the negative nearly six to one. But remember, when optimism gets high, pullbacks often follow.
Solana’s setting up a classic blockbuster move, will it break the resistance and rip higher to $300 or cool off for a breather?
If history’s any guide, the golden cross says buckle up. We got the vibe.
Cryptocurrency and Web3 expert, founder of Kriptoworld
With years of experience covering the blockchain space, András delivers insightful reporting on DeFi, tokenization, altcoins, and crypto regulations shaping the digital economy.
