Solana price has recently attracted renewed attention as buying activity intensifies in the market. Galaxy Digital’s fresh SOL purchase underscores rising institutional accumulation supporting the asset. This adds weight to the ongoing discussion about whether Solana can soon break major resistance levels. With the analyst projecting a long-term target of $1,250, the market is preparing for a decisive phase.
Solana price is currently trading near $233, edging toward the upper boundary of an ascending triangle on the weekly chart. A sustained weekly close above $250 could unlock a bullish breakout, signaling a possible long-term rally.
The chart shows higher lows forming consistently, strengthening the structure of this pattern and suggesting upward pressure. An analyst, Captain Faibik, emphasizes that a breakout could eventually drive the SOL price toward the ambitious $1,250 forecast.
Resistance remains strong at $250, while support is established around $190, protecting the recent uptrend. Historically, ascending triangles tend to resolve in the direction of the prevailing trend.
Therefore, market confidence builds as Solana’s structure tightens, with its higher timeframe outlook aligning with bullish expectations for SOL price prediction. With institutional inflows supporting this setup, the Solana price appears well-positioned for its next major test.
Galaxy Digital’s recent acquisition of $306M SOL has added notable weight to institutional demand for the asset. This single-day purchase expands their accumulation strategy, signaling confidence in Solana’s long-term potential. Over the past five days, their buying spree has already attracted industry-wide attention, but this fresh entry carries even greater significance.
Meanwhile, Forward Industries has launched its Solana treasury with a massive $1.58B buy, securing over 6.8 million SOL at an average price of $232. This makes it the largest Solana treasury company to date, surpassing other notable institutional entrants. Together, these moves highlight how institutional demand is accelerating across multiple fronts.
Such consistent activity reinforces the argument for long-term accumulation and validates the analyst’s bullish forecast. Furthermore, large-scale institutional participation often acts as a catalyst for price stability and sustained growth. With liquidity tightening across exchanges, the stage is set for Solana to potentially confirm its bullish technical structure.
To sum up, the combination of bullish technicals and renewed institutional buying presents Solana with a clear upward path. With $250 emerging as the breakout threshold, a successful weekly close above it would confirm strength. The analyst already places $1,250 as a realistic long-term target, aligning with institutional confidence.
Solana is forming an ascending triangle on the weekly timeframe, signaling a potential bullish breakout.
Institutional accumulation reduces exchange supply and signals long-term confidence, often supporting price stability and growth.
Forward Industries launched a Solana treasury with a $1.58B SOL purchase, making it the largest treasury holder.
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