Solana $SOL is making waves again as its price moves steadily upward, igniting talk of a major bullish breakout. With technical signals aligning and traders showing strong confidence, all eyes are now on the $210 and $375 targets.

Solana Price Climbs in Ascending Channel Toward $210

Top analysts have noted that Solana is trading within an ascending parallel channel, a pattern typically associated with strong bullish momentum. After recently dipping to a low near $158, SOL has bounced back impressively and is now climbing toward the mid-range of the channel.

If momentum continues, the upper boundary of this pattern points to a near-term target of $210. Historical trends show that SOL often corrects after hitting resistance, but this time, analysts say the buying pressure may be strong enough to push it further.

$375 Long-Term Target in Sight

Looking further ahead, crypto expert Gordon highlighted a broader trendline that dates back to previous market cycles. According to his analysis, the $375 price mark could be a future target. This level has acted as a major resistance in the past, and if Solana breaks through it, a full-blown rally could follow.

This long-term diagonal trendline has historically triggered sharp moves whenever touched. Traders are watching closely, hoping SOL will break above this trendline and enter a sustained bullish phase.

Derivatives Data Backs the Bull Case

Solana's price momentum is not just chart-based—it’s being supported by explosive activity in the derivatives market. Open interest in SOL futures surged by 24% to $7.3 billion, while trading volume spiked by 71% to $19.3 billion, confirming a surge of interest from traders.

Additionally, high funding rates and a strong long/short ratio show a heavy lean toward bullish sentiment. For instance:

Binance Long/Short Ratio: 2.24

OKX Long/Short Ratio: 1.67

These figures indicate that top traders are overwhelmingly betting on Solana’s continued rise.

Short Squeeze Adds Fuel to the Fire

The bullish momentum is further amplified by liquidation data. In just the last 24 hours:

$10.5 million in short positions were liquidated.

Long positions saw just $4.4 million in liquidations.

Over the last 12 hours alone, $6.93 million in shorts were wiped out, compared to only $383K in longs. This pattern, where bearish bets get squeezed as prices rise, often leads to accelerated bullish rallies as traders rush to cover positions.

Solana Could Be Poised for Major Gains

Solana has maintained strength above $160 even through turbulent market conditions. If it can cleanly break past the $200–$210 range, analysts believe a run toward $375 could be on the horizon.

With bullish technicals, growing investor confidence, and rising market participation, Solana might just be gearing up for its next big breakout.