Solana is preparing for a breakout at $ 220

Solana SOL $202.83 Binance-Peg SOL -1.72% Market capitalization $0.22 billion VOL. 24 hours $0.65 billion is holding above key support levels, showing signs of short-term bullish momentum. At the time of publication of the news, the token was trading at $ 210, which corresponds to an increase of 4% per day and 3% per week. In recent days, the price has been consolidating in the range of $ 200-$ 206 amid increased trading activity.

Analysts note that a positive structure has been forming on the 4H chart since early August. After a double bottom near $ 165, Solana gained more than 20%, and a subsequent breakout raised it by another 14%, bringing it to $ 210−213. This is now the third attempt to break through this resistance range.

The daily trading volume exceeded $ 9.2 billion. According to Altcoin Sherpa, the concentration of transactions in the narrow $ 200-$ 206 corridor creates conditions for a potential breakout, as such compression often precedes a sharp price movement.

Technical indicators confirm this scenario: Solana is trading above all key exponential moving averages. the 200-day EMA is at $ 200, and the 100-day EMA is at $ 197.57. The shorter EMAs (20 and 55) coincide in the $ 201-$ 202 zone, forming additional support. The key resistance level remains $ 206.65; breaking through it could open the way to $ 220 and higher.

An additional growth factor is the Alpenglow network update, which reduces the time for finalizing transactions from 12.8 seconds to 100−150 milliseconds. The developers call it the biggest modernization of Solana, which should increase the speed and reliability of the blockchain. Validators are already preparing to implement the update.