Solana’s sharp defense of the $245 to $247 zone has sparked fresh optimism, with price now pressing against the $250 ceiling that has capped rallies for months. The breakout attempt has already forced millions in short liquidations, shifting momentum back in favor of bulls.
Solana is showing signs of strength despite sentiment leaning short, with open interest climbing while price continues to defend the $245 to $247 zone. The chart reflects how the market is pressing higher against resistance, while funding and positioning metrics suggest participants are skewed to the downside. This creates the conditions for a potential squeeze, where shorts could be forced to cover if the price continues upward.
Solana holds firm near $247 with open interest climbing, setting the stage for a potential squeeze towards $270. Source: Ali Martinez via X
Analyst Ali Martinez highlights $270 as the next target if this move unfolds. The structure supports his view, with higher lows intact. A confirmed push through $250 would likely accelerate the rally, turning the current resistance into support and setting up a stronger advance towards $270 in line with Ali’s outlook.
SOL just hit the $250 mark for the first time since January, triggering a wave of liquidations worth roughly $37M across CEXes and DEXes, according to SolanaFloor. The move forced shorts out of position and marked a clean technical shift, with price now holding above a level that has capped upside attempts for months. The 24-hour gain of over 7% highlights the strength of this breakout, as momentum built steadily before flipping the key barrier.
That said, the test of $250 has already prompted some partial profit-taking, visible in cooling momentum on shorter timeframes. However, if bulls can absorb this selling pressure and drive price through $255 to $257, it would strengthen the case for continuation towards the $265 to $270 band. A sustained close above $250 would not only confirm the breakout but also keep Solana’s bullish price prediction intact, with higher extensions still firmly in play.
Solana has taken the first rejection off the $250 mark and is now testing how strong the channel structure really is. Analyst Ali Martinez notes that while momentum has leaned bullish, the inability to clear this ceiling on the first attempt leaves room for a possible retrace towards $230. The chart reflects how price has been oscillating within defined upper and lower bounds, making the reaction at this level decisive for the next move.
Solana faces rejection at $250, with analysts warning of a possible pullback towards $230 before the next decisive move. Source: Ali Martinez via X
If buyers fail to absorb the current selling pressure, short-term correction risk increases, with $238 to $233 shaping up as key support zones. On the other hand, a clean breakout and hold above $250 would flip this resistance into support, shifting the short-term outlook back toward $265 to $270.
One of the strongest backdrops for Solana’s current rally is the growing share of institutional treasuries allocating into SOL. As highlighted by Coin Bureau, digital asset treasuries that already hold Bitcoin and Ethereum are now steadily adding Solana, marking it as one of the top three assets institutions are stacking. The chart from Artemis shows a sharp climb in SOL allocations since mid-year.
Institutional treasuries stacking Solana reinforce demand at $250, supporting the breakout case. Source: Coin Bureau via X
This accumulation helps explain why Solana has been able to hold firm near $250 despite profit-taking and heavy short positioning. With treasuries consistently increasing exposure, demand is being reinforced at deeper levels, creating a strong base for continuation. If this institutional bid continues, it adds credibility to bullish Solana Price Prediction.
Solana’s move around the $250 mark is shaping up as one of the more decisive battles of this cycle. With shorts being squeezed, institutional treasuries adding exposure, and technical levels lining up towards $270, the setup feels like it’s at a crossroads. A clean hold above $250 could quickly turn the tables in favor of the bulls.
However, failure to do so leaves room for a deeper retest around $230. Whether the next leg higher comes immediately or after a brief cooldown, the trend remains constructive. If momentum holds, Solana’s bullish price prediction towards $270 and beyond stays well within reach.
Also read: Worldcoin Price Today Steadies as $3.25B Market Cap Fuels Breakout Potential
