bullish

Solana

when

<ul>
 <li>Solana trades below $203 resistance; breakout could trigger a move toward the $270 target.</li>
 <li>Open interest rises and funding turns positive, signaling growing bullish sentiment.</li>
 <li>TVL hits $9.85B and DEX volume exceeds $82B, supporting continued network strength.</li>
</ul>
<p>Solana (SOL) is trading near a critical resistance level, with analysts identifying $203 as the selling wall to watch. A successful breakout above this threshold could open the door for a move toward $270. At the time of writing, Solana was trading at $177, holding just below its 20-day EMA.</p>
<h2 class="wp-block-heading" id="technical-setup-suggests-a-breakout-may-be-forming">Technical Setup Suggests a Breakout May Be Forming</h2>
<p>According to analysis prepared by CW8900, <a href="https://cryptofrontnews.com/solana-price-eyes-220-stellar-holds-0-44-but-cold-wallets-0-00924-entry-yield-285x-gains/" target="_blank" rel="noopener noreferrer nofollow">SOL could rise</a> to $270 if it clears the $203 selling wall. This level has acted as a barrier since July 22, when SOL reached a high of $206. The price has since retraced, with current support forming near $178.25, the 20-day exponential moving average.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/CW8900/status/1950804735755456564
 </div>
</figure>
<p><a href="https://cryptofrontnews.com/solana-co-founder-calls-nfts-and-meme-coins-digital-slop-amid-criticism/" target="_blank" rel="noopener noreferrer nofollow">Solana has printed</a> three consecutive lower daily closes, although open interest continues to rise, suggesting position building during the pullback. Funding rates have shifted from negative to slightly positive, now at 0.0079%, showing a tilt toward bullish sentiment.</p>
<p>On-chain metrics reflect cooling activity, with daily active addresses down 16% over the past week, based on Artemis <a href="https://app.artemisanalytics.com/home" target="_blank" rel="noopener noreferrer nofollow">data</a>. However, trading volume remains strong, and liquidity at $183.30 holds approximately $11 million in leveraged positions.</p>
<h2 class="wp-block-heading" id="golden-cross-potential-and-network-growth-reinforce-upside-outlook">Golden Cross Potential and Network Growth Reinforce Upside Outlook</h2>
<p>Analysts also point to a potential golden cross forming on the daily chart. According to Open4profit, the last golden cross took SOL from $156 to $293. A similar crossover could signal a bullish continuation, especially if SOL holds above the $175 support level.</p>
<figure class="wp-block-image"><a href="https://x.com/open4profit/status/1950828982590439542" target="_blank" rel="noopener noreferrer nofollow"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeZn4D7SB9ObwOZ-BJkCdo-W8Nv5Ypheqk5EmzRiLKHdSjENqFWp1UEp5oThDtVzR2W-Sb4nfhWGPMjEjaMRHj-TAXVEPftMMDnpGhIoUIhhPo1Ia6tWf-Mfw91ixxsJ3T8tAsLKw?key=Ag-rsYZAofNer1D0J2Ampg" alt=""></a>
 <figcaption><strong>Source: Open4profit(X)</strong>
 </figcaption>
</figure>
<p>Solana’s network showed strong growth in July. TVL rose 14% to $9.85 billion, and DEX volumes exceeded $82 billion, according to <a href="https://defillama.com/" target="_blank" rel="noopener noreferrer nofollow">DefiLlama</a>. Revenue increased by 13% month-over-month, reaching $4.3 million.&nbsp;</p>
<p>Although some cooling is evident, overall activity remains elevated compared to June levels. According to analysts, SOL must break above $188 and sustain support above $175 to resume its upward momentum. A breakout above $203 could bring the $270 target into focus.</p>
<p>The post <a href="https://cryptofrontnews.com/solana-tests-203-selling-wall-a-breakout-coul/" target="_blank" rel="noopener noreferrer nofollow">Solana Tests $203 Selling Wall, A Breakout Could Set the Stage for a Move Toward $270</a> appears on <a href="https://cryptofrontnews.com" target="_blank" rel="noopener noreferrer nofollow">Crypto Front News</a>. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.</p>

Solana Tests $203 Selling Wall, A Breakout Could Set the Stage for a Move Toward $270

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