{"id":6998,"date":"2025-09-14T04:11:09","date_gmt":"2025-09-14T04:11:09","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/solana-eyes-massive-breakout-amid-240-retest-but-analyst-issues-crucial-market-warning\/"},"modified":"2025-09-14T04:11:09","modified_gmt":"2025-09-14T04:11:09","slug":"solana-eyes-massive-breakout-amid-240-retest-but-analyst-issues-crucial-market-warning","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/solana-eyes-massive-breakout-amid-240-retest-but-analyst-issues-crucial-market-warning\/","title":{"rendered":"Solana Eyes Massive Breakout Amid $240 Retest, But Analyst Issues Crucial Market Warning"},"content":{"rendered":"

Solana (SOL) could be near the long-awaited price discovery phase after climbing to a seven-month high. However, an analyst suggested investors remain cautious, as the market rally is \u201ccloser to the end than the beginning.\u201d<\/p>\n

Solana Eyes Last Major Resistance<\/h2>\n

On Friday, Solana reached a seven-month high of $241.84 after breaking out of its consolidation range earlier in the week. The cryptocurrency had been trading within the $120-$220 price range since the start of February, failing to reclaim the range\u2019s high during the recent short-term recoveries.<\/p>\n

The ongoing rally has sent the cryptocurrency past multiple crucial barriers, \u201cgetting close to the final resistance,\u201d analyst Crypto Jelle stated. He highlighted that SOL has been \u201cquietly pushing higher, without anyone paying attention,\u201d climbing 20% since Sunday.<\/p>\n

Now that the altcoin is attempting to reclaim the $240 area as support, the analyst pointed<\/a> out that Solana has \u201cone last hurdle to overcome\u201d before price discovery. \u00a0According to the post, if SOL reclaims the $250 level, \u201cthe sky is the limit,\u201d as this area has been a crucial macro resistance level over the past two years.<\/p>\n

To the analyst, turning this level into support could set the base for a rally to $600. Similarly, analyst Ali Martinez suggested<\/a> that SOL\u2019s main target sits at around the $1,314.41 level after the altcoin broke out of a massive three-year cup and handle pattern.<\/p>\n

Nonetheless, Altcoin Sherpa issued<\/a> a warning to investors on X, stating that \u201cNow is NOT the time to ape in gigantic.\u201d He asserted that despite thinking that Solana, Ethereum (ETH), and BNB \u201cgenerally go higher from here, (\u2026) the bulk of the move is done for these.\u201d<\/p>\n

The analyst explained<\/a> that he will remain bullish \u201cuntil shown otherwise,\u201d and expects a great performance in the coming months, but noted that the bull run is \u201ccloser to the end than the beginning.\u201d<\/p>\n

\u201cWe are lucky that the marginal buyers are Tradfi with these DATs but with Saylor not buying as much, hard to tell where the next set of flows come from,\u201d he stated.<\/p>\n

\u2018SOL Season\u2019 Momentum Grows<\/h2>\n

Bitwise\u2019s CIO Matt Hougan recently forecasted a bullish Q4 rally for Solana, affirming that the cryptocurrency has \u201call the ingredients (\u2026) for an epic end-of-year run.\u201d He suggested that it could start a \u201cSolana Season\u201d fueled by exchange-traded funds (ETFs) and strong corporate treasury purchases.<\/p>\n

Notably, multiple spot Solana ETFs are awaiting the approval of the US Securities and Exchange Commission (SEC) after the regulatory agency delayed the decision deadline last month. As a result, issuers and investors are expecting a positive outcome around the first half of October.<\/p>\n

Additionally, the recently launched Solana Treasury company, Forward Industries Inc., announced<\/a> it had successfully closed its private investment in public equity (PIPE) financing on September 11, securing gross proceeds of approximately $1.65 billion for the Company.<\/p>\n

As reported by NewsBTC, Galaxy Digital, Jump Crypto, and Multicoin Capital announced their plan to establish the SOL treasury company to purchase the cryptocurrency, stake it, and generate excess returns.<\/p>\n

\u201cForward Industries intends to use the net proceeds from the offering primarily to purchase SOL, the native digital asset of the Solana blockchain,\u201d the company reaffirmed in its Thursday statement.<\/p>\n

As of this writing, SOL is trading at $239.86, a 6.1% increase in the daily timeframe.<\/p>\n

\"solana,<\/p>\n","protected":false},"excerpt":{"rendered":"

Solana (SOL) could be near the long-awaited price discovery phase after climbing to a seven-month high. However, an analyst suggested investors remain cautious, as the market rally is \u201ccloser to the end than the beginning.\u201d Solana Eyes Last Major Resistance On Friday, Solana reached a seven-month high of $241.84 after breaking out of its consolidation…<\/p>\n","protected":false},"author":1,"featured_media":6999,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[61],"tags":[3427,114,1088,833,72,3424,3366,174,3428,121,3429,3430,129],"class_list":["post-6998","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency-market-news","tag-bitwise-cio","tag-crypto-analyst","tag-crypto-bull-run-2025","tag-crypto-market-correction","tag-cryptocurrency-market-news","tag-forward-industries","tag-galaxy-digital","tag-sol","tag-sol-season","tag-solana","tag-solana-season","tag-solana-treasury-companies","tag-solusdt"],"_links":{"self":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/6998","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=6998"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/6998\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/6999"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=6998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=6998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=6998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}