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Solana Edges Toward Breakout as Traders Watch Key $210 Resistance
Solana trades near the $210 mark, a strong resistance level that could set the stage for a significant upside move if broken.
Analysts project upside targets of $250, $310, and $360, supported by an ascending triangle pattern and higher lows since April.
The SEC’s delay on two Solana ETF rulings until October 2025 introduces short-term uncertainty despite the prevailing bullish technical outlook.
Solana is trading at $193.67 and moving closer to the $210 resistance level. Market participants are monitoring this price area for signs of a potential breakout that could set the tone for the next major move.
Analyst Ali expects a moderate retracement before Solana retests its ascending trendline support. This setup, according to the analysis, could lead to a multi-stage breakout. Price action on the daily timeframe shows consolidation near the $210 level, which has acted as strong resistance in the past.
Potential Upside Levels Identified
If the $210 barrier is surpassed, Fibonacci extensions place the next targets at $250, $310, and $360. These projections remain in play as long as bullish momentum holds. The formation of an ascending triangle pattern and the presence of higher lows since April have reinforced buying interest during each dip.
Failure to overcome the $210 level could result in a move back toward the $175 zone. Such a pullback could serve as a re-accumulation phase for traders waiting for stronger signals. Volume confirmation will be key in determining whether any breakout attempt can sustain momentum.
ETF Ruling Delay Adds to Market Uncertainty
The U.S. SEC has postponed decisions on the Bitwise Solana ETF and the 21Shares Core Solana ETF until October 16, 2025. The rulings are considered important for wider institutional participation in Solana. Approval could open access through conventional brokerage accounts, potentially adding significant liquidity to the market.
While the technical outlook remains bullish, the ETF delay adds a layer of uncertainty in the short term. Traders are closely watching both price action and upcoming macro events to gauge the strength of Solana’s next move.
The post Solana Edges Toward Breakout as Traders Watch Key $210 Resistance appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.