Solana trades near $210 resistance with Fibonacci targets at $250, $310, and $360 if momentum continues above the breakout zone.
The ascending triangle pattern and higher lows since April support a possible breakout with strong buying interest on each dip.
The SEC postpones Solana ETF ruling until October 16, 2025, creating temporary uncertainty while institutional access remains a long-term catalyst.
Solana is showing renewed momentum as it consolidates near the $210 level. The token is currently trading around $193.67 and is approaching a major resistance zone that could determine its next move. Analysts suggest that a moderate pullback may occur before buyers attempt to push prices higher.
The $210 region remains a strong barrier. Market data indicates that a confirmed breakout above this level could trigger upside targets of $250, $310, and eventually $360. Fibonacci extensions outline these levels as potential milestones if momentum continues.
Technical Formation Supporting Momentum
On the daily timeframe, Solana is forming an ascending triangle pattern. This structure has been supported by higher lows since April, with each decline quickly met by renewed buying pressure. The consistent recovery from dips has strengthened bullish sentiment and increased expectations of an eventual breakout.
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Analyst Ali recently highlighted that Solana may retest its ascending trendline support before launching into a multi-stage rally. The expectation of volume expansion at a decisive breakout has added confidence to market participants. Many traders are closely monitoring the $210 level for signals of sustained momentum.
Regulatory Developments Impacting Sentiment
While technicals remain constructive, regulatory uncertainty has introduced short-term caution. The U.S. Securities and Exchange Commission has delayed decisions on the Bitwise Solana ETF and the 21Shares Core Solana ETF until October 16, 2025. The ruling is expected to be a significant catalyst for market sentiment.
Approval of a spot Solana ETF would provide broader access to institutional and retail investors through conventional brokerage accounts. This could increase liquidity and support any technical breakout. However, the delay has shifted focus to October as a critical month for regulatory clarity.
Despite short-term uncertainty, traders remain optimistic about Solana’s long-term potential. A successful breakout above $210 could accelerate momentum toward higher Fibonacci targets, with $360 identified as the key objective if both technical and regulatory conditions align.
