Solana: Odds of THIS pattern pushing SOL to $225 are…
Solana has made a moderate recovery over the past day after a dip below $200
- SOL has surged by 5.02% over the past 24 hours.
- Solana could see a sustained recovery if it holds above $200.
After dropping to a low of $179, Solana [SOL] has made a moderate recovery to reach $220. However, the altcoin has retraced since then. In fact, as of this writing, Solana was trading at $206.
This marked a 5.02% increase on daily charts. Before these gains, SOl had been on a downward trajectory dropping by 14.12% on weekly charts.
With the recent price recovery, the altcoin has left analysts talking about a possible sustained recovery. Inasmuch, popular crypto analyst Man of Bitcoin has suggested a potential recovery citing Fibonacci wave 3.
Market sentiment suggests…
In his analysis, ManofBitcoin observed that Solana’s price is working on wave-3 to the upside.
Usually, wave 3 is the most powerful and extended, often reaching 1.618x or even 2.618x the length of wave 1.
Therefore, if this uptrend holds, the realistic target for SOL would be $225. However, if the altcoin fails to hold, and loses momentum, wave three could fall off expectations resulting in a pullback.
Can Solana see a sustained recovery?
While the analysis provided above offers a promising outlook, it’s essential to countercheck other market indicators and determine what they suggest.
According to AMBCrypto’s analysis, Solana was gaining short-term upward momentum which could see the altcoin make some gains on its price charts.
For example, Solana’s Futures Basis has remained positive on Binance, and Kraken. When this remains positive, it implies that futures contracts are trading at a premium to the spot price.
This reflects bullish market sentiments with traders expecting prices to increase thus they pay a fee to hold their positions.
This bullishness is further confirmed as long position holders are dominating the market.
Coinalyze data shows that long positions comprise 76.42% of daily timeframes. When more traders are going long, it implies they anticipate prices to recover.
Outflows have exceeded inflows, indicating more investors are withdrawing their SOL from exchanges than depositing.
With a negative Spot Netflow, it suggests traders are accumulating and storing them in private wallets, waiting for suitable conditions to reenter the market.
Read Solana’s [SOL] Price Prediction 2025–2026
Although Solana has declined over the past week, it’s not an isolated case since the wider crypto market has also experienced a dip.
If the market remains optimistic, we could see SOL reclaim $219 and then attempt a $223 breakout.
For this bullish outlook to hold, the altcoin must stay above $200. Conversely, a potential correction could see SOL drop below $200 again.
