Solana (SOL) is navigating a pivotal market phase as it hovers near a critical resistance zone ahead of the monthly close. The asset has shown strength in holding higher support levels, positioning itself for a potential breakout. If bullish momentum sustains, the SOL price could reclaim the $200 threshold in the near term, with mid-range targets stretching toward $240. Should momentum accelerate further, extended targets of $260 to $300 remain viable before facing stronger structural resistance.

Solana Whales Remain Highly Active

Throughout July 2025, Solana witnessed a surge in significant whale activity, with over 5 million SOL—valued at more than $850 million—moved across key wallets. These transfers, largely between unidentified addresses and from exchanges to cold storage, suggest strategic accumulation rather than liquidation. Such movements signal growing institutional confidence and reduced near-term sell pressure. 

Notably, SOL’s price responded positively, rallying from sub-$150 levels to nearly $180, validating bullish sentiment. This sustained whale engagement has fortified support zones and amplified the possibility of a breakout, setting the stage for potential targets in the $200–$240 range in the coming weeks.

What’s Next? Will SOL Price Break the $200 Barrier?

The short-term price action remains highly speculative as the bulls refrain from displaying strength while the bears are also failing to hold a tight grip over the rally. As a result, the price remains consolidated below the $200 threshold. On the other hand, the weekly chart shows a perfect formation of a bullish pattern, as the price has broken above the ascending triangle and is undergoing a retest. 

Despite the rejection, the bulls have been defending the support zone between $178 and $182, hinting towards a potential bullish rebound. Interestingly, the price in the long term has risen above the Ichimoku cloud, indicating a major flip in the market trend. Moreover, the levels have undergone a bullish crossover, validating the beginning of a fresh bullish trend. Meanwhile, the CMF has surged above 0, suggesting a major influx of liquidity, which could completely flip the persisting bearish trend. 

Therefore, if the Solana bulls manage to defend the crucial support zone that it has entered, there is a greater possibility of a bullish continuation. Ever since the SOL price faced rejection from the ATH at $295, it has been failing to secure a range above $200. Therefore, a sustained upswing above this range could be extremely crucial for Solana, which may head towards a new ATH.