Solana’s price has shown bullish momentum following a key breakout above the $190 level, which has since acted as firm support. As of August 25, 2025, Solana (SOL) is trading above $200, with technical indicators and on-chain data pointing toward $210 as the next near-term target [1]. The shift in support/resistance levels, coupled with strong trading volume and positive on-chain metrics, has reinforced the upward trend for the asset [1].

On-chain activity suggests that Solana’s ecosystem is experiencing significant growth, particularly in the decentralized finance (DeFi) space. The total value locked (TVL) on Solana has reached $11.336 billion, reflecting a 1.40% increase in the last 24 hours according to DefiLlama data [1]. Additionally, the chain’s stablecoin market capitalization stands at approximately $11.683 billion, providing ample liquidity for decentralized exchanges and lending protocols [1]. These figures highlight the expanding utility and infrastructure of the Solana network.

Technical analysis supports the bullish narrative. Short-term charts indicate strong momentum, with SOL rallying from $180 to $209.72 within the one-hour timeframe. The alignment of moving averages—5MA, 10MA, and 20MA—in ascending order, as well as the 10MA crossing above the 20MA, signals a bullish trend. Market observers such as Gemxbt have noted that this configuration is indicative of sustained upward movement [1]. The Relative Strength Index (RSI) is nearing 70, a level that suggests strong buyer participation and potential overbought conditions. Meanwhile, the MACD remains in positive territory, with the MACD line above the signal line and green histogram bars, further supporting continued gains [1].

The breakout above $190 was confirmed by a surge in trading volume, reinforcing the structural shift in market sentiment. Traders and analysts are now looking toward $210 as the next resistance level, with market commentator Ted Pillows suggesting that a successful retest of the $210–$220 zone could accelerate the upward trajectory [1].

Institutional interest is also on the rise, adding to the positive momentum. VanEck has submitted filings for a Solana ETF in the United States, signaling growing institutional adoption. Additionally, reports indicate that the European Union is reviewing Solana as part of its digital currency infrastructure evaluation [1]. These developments suggest that institutional confidence in the asset is increasing, potentially amplifying future price moves.

Daily network fees on Solana have reached approximately $1.12 million, while decentralized exchanges on the network processed around $3.167 billion in 24-hour trading volume [1]. Token buybacks across Solana-based projects have surged by 158% over two weeks, representing roughly 40% of observed buyback activity in the broader crypto sector. These on-chain signals indicate strong network activity and growing developer and investor interest in the platform.

For traders navigating this bullish environment, it is important to manage risk effectively. Positions should be sized around the $190 support level, with trailing stops placed below this threshold to protect gains. Close attention should be paid to RSI and volume levels for signs of potential exhaustion. Near the $210–$220 resistance zone, traders are advised to consider reducing leverage and diversifying risk to mitigate potential volatility [1].

In summary, Solana’s price action is supported by a combination of on-chain growth, technical momentum, and rising institutional interest. The $190 level has proven resilient as support, and the path to $210 appears viable as long as volume remains strong and bullish indicators persist. Market participants are advised to monitor key metrics and institutional developments for potential catalysts in the near term [1].

Source: [1] Solana May Hold $190 as Support, Eyes $210 Amid DeFi TVL Rise to $11.3B and Growing Institutional Interest August 25, 2025 (https://en.coinotag.com/solana-may-hold-190-as-support-eyes-210-amid-defi-tvl-rise-to-11-3b-and-growing-institutional-interest/)