Solana Holds Above $200 As $212 Breakout Nears – Will Momentum Hold Toward $218 and $230 Targets?

Solana price remains stable above $200 after reclaiming its monthly open, with support at $201.71 and resistance near $209.09.

Analyst Fabix_Sol identifies $212 as the breakout level, setting targets at $218, then $225–$230 if upward momentum sustains.

Low trading volume indicates compression, suggesting the market awaits stronger liquidity before confirming a breakout direction.

Solana’s price has remained steady above the $200 mark after reclaiming its monthly opening, according to recent market analysis. The asset traded at $208.91, reflecting a 2.9% gain over the past seven days. At the same time, the price in Bitcoin terms stood at 0.001872 BTC, which marked a 2.2% increase. Support levels appeared around $201.71, while immediate resistance was seen near $209.09. Analysts noted that Solana has been compressing on low volume for several weeks, a sign that the market could soon face a breakout scenario.

According to the chart by analyst CryptoJelleNL, he highlighted a two-year rounded formation, which the analyst described as extended preparation for potential price discovery. A projection was placed toward the $600 level, marking a long-term outlook if resistance levels break in stages. This annotation reflected the broader structural buildup rather than an immediate forecast.

Price Consolidation on Lower Volume

The current chart structure shows a rounded formation extending across nearly two years. This pattern reflects extended consolidation, where the price repeatedly tested resistance levels without significant rejection. Notably, the outlined resistance near $212 has become the critical level to watch. Market participants are closely monitoring whether Solana can close decisively above this point. If achieved, it could confirm the ongoing trend shift that began in mid-2023.

The analysis from Fabix_Sol pointed out that Solana has already reclaimed its monthly open and maintained stability above $200. This behavior adds weight to the observation that momentum has been building, though without heavy trading volume. However, periods of compression on low volume often precede stronger directional movements once liquidity returns to the market.

Solana Poised for Breakout Amid Strong Base Formation

According to Fabix_Sol, the first breakout target remains $218, which aligns with short-term resistance observed on multiple time frames. Beyond this point, the analyst outlined additional targets at $225 and $230. These price levels represent incremental steps that could validate the breakout, provided the asset maintains support above $200 during upward attempts.

The chart further suggests that Solana is developing a base structure, which justifies the possibility of further increases in the upside in case of resistance. This is in line with the overall technical structure that has been playing out since the start of the year 2024. But until such confirmation is received by way of decisive action in the price above $212, the market is trading within a narrow band.

Technical Context and Wider Perspective

From a broader view, Solana’s trajectory has been shaped by several cycles of expansion and correction since 2021. After experiencing a prolonged drawdown, the price began to recover steadily from early 2023. The rounded base visible on the chart highlights this recovery process and the persistence of long-term buyers.

With resistance levels clearly defined, the market’s immediate focus rests on the $212 threshold. The coming sessions will determine whether Solana can push toward the next outlined targets or remain within the current range.