Finance

Solana Bulls Defend $190: Will Treasury Accumulation Fuel a Surge to $300?

Solana is poised for a breakout above $205, with analysts eyeing higher targets, supported by treasury accumulation.

October 20, 2025, 11:23 AM

A red bear and a green bull face each other in a tense standoff, symbolizing a stock market battle.

The red bear and green bull face off in a dramatic showdown, symbolizing the intense battle between bearish and bullish trends in the stock market. By MDL.

Executive Summary

Solana is demonstrating renewed market strength, trading within an ascending channel with bulls consistently defending the $190 support level, and a breakout above the $205-$210 range is anticipated.

Analysts project potential price targets for Solana at $246, $300-$320, and beyond, contingent on a decisive push past $205-$210 and a confirmed breach of its 2021 high of $260.

Increasing accumulation of Solana by major treasury firms is identified as a significant fundamental catalyst for a new bull run, despite short-term volatility and a potential dip to the $150-$160 region before a larger bullish transition.

The Story So Far

Solana’s current market strength and potential for a significant rally are underpinned by robust technical indicators, including an ascending channel and strong defense of key support levels, which suggest a healthy accumulation phase. This technical outlook is further bolstered by increasing on-chain accumulation by major treasury firms, signaling growing institutional demand and conviction, drawing parallels to past significant crypto rallies.

Why This Matters

Solana’s current market strength, characterized by consistent defense of key support levels and an ascending channel, positions it for a potential significant price rally toward new highs. This technical momentum is bolstered by increasing accumulation from major treasury firms, signaling growing institutional conviction and a fundamental catalyst that could drive a new expansion phase for SOL, solidifying its long-term growth trajectory into 2026.

Who Thinks What?

Market observers and analysts like YiminX and Exy maintain a bullish outlook for Solana (SOL), anticipating a breakout above $205-$210 to propel it towards higher price targets like $246, $300-$320, or even $351, based on strong defense of support levels and an ascending channel.

Crypto GVR’s analysis suggests a potential short-term dip for Solana into the $150-$160 region, aligning with prior demand, before a larger bullish transition.

Jesse Peralta highlights increasing accumulation of Solana by major treasury firms, viewing this growing institutional demand as a fundamental catalyst for a new bull run, similar to Ethereum’s trajectory.

Solana (SOL) is demonstrating renewed market strength, trading within an ascending channel as bulls consistently defend key support levels near $190. Market observers are anticipating a potential breakout above the $205-$210 range, which could propel the cryptocurrency towards higher price targets, supported by signs of steady accumulation.

Accumulation Pattern Strengthens Solana Outlook

The cryptocurrency has maintained an ascending channel, with strong buying reactions evident each time the price retests the lower boundary near $190. This pattern suggests active defense by bulls and a gradual rebuilding of momentum. Analysts, including YiminX, note that this structure mirrors previous accumulation phases that preceded significant rallies.

Roadmap Toward Higher Targets

For bullish momentum to continue, a decisive push beyond $205 and $210 is considered crucial, potentially opening the path towards $246 and $351. The long-term ascending trendline, which has guided SOL’s uptrend since early 2023, remains intact, with current support holding between $187 and $185. Resistance levels are identified near $260 and $295.

Exy, another market analyst, suggests a breakout trajectory that could see Solana’s price reach $300 to $320. A confirmed breach above the 2021 high of $260 would validate this move, setting $295 and $325 as subsequent checkpoints. The chart technically supports a bullish bias as long as SOL remains above its $180 base.

Short-Term Volatility Amid Liquidation Clusters

Despite the bullish long-term outlook, short-term volatility persists. Liquidation heatmaps, as highlighted by 5.0 Inverted, show dense clusters around $189 and $183. These areas have acted as intraday magnets, causing temporary price swings as leveraged positions are squeezed before rebounds occur.

Potential Short-Term Dip

Crypto GVR’s analysis outlines a potential short-term dip for Solana into the $150-$160 region before a larger bullish transition. This zone aligns with prior weekly demand and the lower boundary of the ascending channel on higher timeframes. Should this correction complete, a recovery path extending towards $215, $236, and $253 is projected, provided SOL avoids a close below $150.

Treasury Accumulation as a Catalyst

Fundamentally, on-chain data shared by Jesse Peralta indicates increasing accumulation of Solana by major treasury firms, drawing parallels with Ethereum’s trajectory. This growing institutional demand signifies strong conviction in the asset and its expanding role in treasury-backed assets and tokenized portfolios, potentially serving as a catalyst for a new bull run.

Solana’s Next Move

Solana’s price consolidation appears to be a healthy mid-cycle structure. Critical support levels are established at $180 and deeper at $150-$160. Upside targets are identified at $215, $246, and $260, with a breakout above these potentially leading to moves towards $300 and beyond. The combination of increasing treasury accumulation and strong channel performance suggests a new expansion phase could emerge by late Q4, maintaining a decisively bullish outlook into 2026 if these supports hold.