Solana (SOL) has risen 19.4% this week to a 7-month high of $244. Fresh institutional flows have driven the rally, including Galaxy Digital’s $1.16 billion purchase and Forward Industries’ $1.65 billion treasury move. With momentum building, SOL is now testing the $250 resistance level, the final hurdle before a potential push to $300 by year’s end.
Institutional Demand for SOL
Galaxy Digital made headlines with one of the largest SOL buys in months, purchasing nearly 5 million tokens worth $1.16 billion across major exchanges in just three days.
The first $486 million tranche pushed SOL above $220, its highest level in 8 months, and forced $17 million in shorts to liquidate.
Forward Industries also backed Solana by moving part of its corporate treasury onto the network, citing lower transaction costs and scalability. Supported by Jump Crypto and Multicoin Capital, the firm raised $1.65 billion, with Galaxy itself contributing $300 million.
Key takeaways from the institutional buying:
Galaxy’s accumulation pushed SOL above $220 for the first time since early 2024. $17 million in shorts were liquidated as the rally intensified. Treasury adoption means SOL is now part of the enterprise finance ecosystem.Analysts believe this could mark the start of a “Solana season,” with some forecasts predicting prices of $300-$400 if inflows continue.
Solana (SOL/USD) Technicals Support the Rally
The Solana price prediction remains bullish, as SOL is currently at $243, pushing against the $244 resistance after a near-vertical move from late August. The ascending wedge is showing higher lows, indicating a bullish structure.
The 50-EMA at $218 serves as near-term support, and the 200-EMA at $191 provides longer-term support. The RSI is 80, so we may see a pause or consolidation before more upside. The recent candles form a “three white soldiers” pattern, which is a strong bullish formation.
SOL/USD Technical Outlook & Price Chart – Source: TradingviewIf SOL holds above $234, the next target is $257. Above that, it’s $268 and $282, which are previous highs. But if it fails to hold $23,4 we could see a pullback to $224 or $212. For short-term trades, a long entry above $244 with stops under $224 is a good risk-reward trade.
For long-term investors, the trend is still intact. With institutional demand increasing and technical indicators showing momentum, the $300 mark looks increasingly realistic by year’s end.
Suppose Solana gets above the $257-$268 range, the probability of a new all-time high increases. More importantly, Galaxy Digital and Forward Industries are involved, so this rally looks less like speculation and more like accumulation.
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Click Here to Participate in the PresaleThe post Solana Price Prediction: SOL Price Targets $300 Again After 19.4% Weekly Gain – Is This Realistic? appeared first on Cryptonews.
