Solana (SOL) is currently consolidating below the $200 mark after weeks of impressive gains. The upcoming Alpenglow upgrade has garnered almost unanimous community support, sparking positive short-term price forecasts for Solana.
Solana is trading just below $200, with crucial support around this psychological level. The token is evolving within an ascending channel, with support near $180 and resistance around $215.
Although trading momentum has calmed somewhat, the Alpenglow upgrade has contributed to positive sentiment for Solana. Investors are anticipating faster block creation and increased transaction speeds, which should enhance the network’s competitiveness.
If Solana manages to break through the resistance at $215, analysts envision continued upward movement toward $250 by October. Technical data supports a bullish momentum, with notable whale accumulation and strong DeFi activity underpinning the trend.
The bullish scenario is further fueled by expectations surrounding the Alpenglow upgrade. If this update delivers tangible improvements in performance and reliability, the market could view Solana as a stronger competitor to Ethereum, paving the way for gains beyond $250. In this scenario, longer-term projections even point to a potential movement toward $300-350 as confidence builds.
The main short-term risk would be a breakdown of support at $180. Failure to maintain this level could lead to a more significant pullback within the ascending channel, with bearish targets toward $165-170. Broader market weakness, particularly if Bitcoin or Ethereum retreated, would likely amplify selling pressure.
There’s also the possibility of disappointment around Alpenglow if developer adoption and migration don’t meet expectations. Without real follow-through, the upgrade might not be sufficient to sustain the bullish momentum, leaving Solana vulnerable to a new phase of consolidation or correction.
Currently, Solana’s key range sits between $180 and $215:
The current outlook for Solana is cautiously bullish. We expect increased volatility around the Alpenglow upgrade, with direction depending on whether the technical improvements can offset any broader market weakness.
To capitalize on Solana (SOL)’s upside potential, currently around $202.7, toward $240-300 in 2025, follow these simple steps on Bitget:
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