Analyst Calls SOL a Buy Before Potential $360 Rally

TL;DR

• Solana trades at $181, holding above $176 help, with resistance marked at $205.
• Elliottwave evaluation reveals a double correction with help close to $164–$157 and invalidation at $195.
• EU considers Solana or Ethereum for digital euro launch, elevating accessibility and privateness questions.

Solana Worth and Analyst Outlook

Solana (SOL) was priced at $181 at press time, with a day by day buying and selling quantity of $4.55 billion. The token has fallen 1% within the final 24 hours and is down 8% over the previous week. Regardless of this decline, analyst Ali Martinez acknowledged, 

“Not a foul spot to begin loading Solana $SOL earlier than a breakout to $360.”

Ali’s chart reveals Solana buying and selling in an ascending structure supported by greater lows since March. The token stays above the $176 help zone and faces resistance at $205. Fibonacci extension ranges mark reference factors at $250, $278, $320, and $362. Solana continues to maneuver between its rising trendline and the resistance space.

Not a foul spot to begin loading Solana $SOL earlier than a breakout to $360. pic.twitter.com/N42zXpMzbT

— Ali (@ali_charts) August 21, 2025

Corrective Construction and Technical Readings

Elliottwave Forecast outlined a corrective sample for Solana. The chart locations SOL at $167 inside a double correction (W–X–Y) formation. Help is projected between $164 and $157, whereas an invalidation degree is famous at $195. The replace added, “We Do Not Suggest Promoting,” specializing in the corrective setup.

Based mostly on indicators, the 9-day shifting common stands at $185, whereas the 21-day shifting common is at $179. The worth of Solana is between the 2 averages, which implies that the boldness over the quick time period is ongoing, however there isn’t any explicit course.

The Relative Power Index (RSI) is at 50, which signifies a impartial stance of the market. In July, the RSI rose to above 70, indicating a busy shopping for interval then.

Spot Market Exercise

CryptoQuant information reveals Solana’s Spot Taker Cumulative Quantity Delta (CVD). From November 2024 to February 2025, shopping for was dominant, supporting greater costs. Between March and Might 2025, promoting exercise was stronger, and costs moved decrease.

In June and July 2025, the CVD was largely impartial, with a brief shopping for part. By August 2025, the information reveals stronger promoting stress whereas Solana trades close to $180.

Broader Market Improvement

The European Union is assessing whether or not to launch the digital euro venture on Ethereum or Solana as an alternative of a non-public chain. A rollout on a public blockchain may enhance accessibility, although considerations stay over privateness and safety.