Will SOL rise to $300 after this breakout?

The price of Solana (SOL) shows a resurgence of strength after breaking out of the consolidation pattern around the $188 level. Through technical analysis, it is likely that the price will increase by an additional 66.12%, targeting a zone between $294 and $300.

Many chart structures and predictions from analysts agree with this target, making Solana one of the most promising altcoins as we enter August.

SOL aims for a target of 300 dollars

The price action of SOL has confirmed a clear breakout from the bullish flag pattern. On the 4-hour chart shared by ChristiaanDefi, the uptrend line has been maintained since the end of June, with the price of SOL continuously making higher lows.

This upward structure indicates that buying pressure is still strongly present in the market.

SOL price chart 4 hours | Source: ChristiaanDefiCurrently trading around $193, the price is just above the rising trend line and an important horizontal resistance zone. If it can break through this area, SOL will completely activate the previously forecasted breakout pattern.

This corresponds to an increase of 66.12%, bringing the price up to approximately 294.98 dollars as shown on the chart. The visual layout includes a vertically extended box with calculations, illustrating the estimated range from the baseline to the target price.

This chart aligns with the broader technical trend, as the price of SOL continues to recover and surpass key moving averages as well as the trading volume clusters.

With support from the breakout zone, the target of 300 dollars is completely feasible.

Price target 280 dollars received support

In addition to the breakout signal on the 4-hour chart, the daily chart structure of SOL also shows an uptrend, according to SatoshiFlipper's analysis.

Your analysis confirms that the price has completed the breakout of the descending wedge pattern in mid-April. This breakout phase has triggered a bullish trend, accompanied by a slight pullback supported by the balanced range within the descending trend channel – a classic "bull flag" pattern, indicating that the upward momentum is still being maintained.

1-Day SOL Chart | Source: Satoshi FlipperThe bullish flag pattern of this altcoin has broken out with high trading volume and almost no wick of correction candles.

The price of SOL has surpassed the local resistance zone at $165 and subsequently closed above $185.

This structure indicates the potential for continued expansion to the next resistance zone around the $280 level. In the past, this price level served as a rejection point during the 2021–2022 cycle and is now becoming a price attraction zone.

Satoshi Flipper calls the current chart "blazing", reflecting the strength of the trend as well as a clear technical setup. The forecast based on technical measurements from the breakout of the bull flag pattern he proposed perfectly aligns with the zone of 280 dollars, further reinforcing the target to expand to 294 dollars shown in Christiaan's chart.

The increase of SOL is driven by momentum, structure, and market psychology

The overall bullish trend of the market continues to reinforce the bullish scenario for Solana. Over the past two weeks, SOL has led the altcoin group in performance.

The relative strength index (RSI) of SOL remains in the bullish zone, while the MACD indicator continues its upward trend on both the 4-hour and daily time frames.

The trading volume data shows that there has been strong accumulation activity during the previous consolidation phase. At higher price levels, each breakout is accompanied by an increase in trading volume — indicating that both institutions and retail investors are showing more interest as the technical pattern supports an upward trend.

In addition, the Solana ecosystem is still expanding. Developer activity, total value locked (TVL) in the DeFi sector and the NFT space are all showing positive trends.

These core factors are supported by the technical foundation, as the current price structure still shows clear growth potential.

Important support of SOL holds firm at the breakout zone of 206 dollars

Analyst Suzzy Defi also supports this bullish argument by pointing out the important bounce at the $187.6 level. On the 4-hour chart, the price has maintained the upward trend support line, regaining short-term momentum after the recent correction.

The technical structure remains clear and intact, with higher lows continuing to form.

SOL price chart 4 hours | Source: SuzzyAccording to Suzzy's analysis, bulls are currently focusing on the $206 mark. If the price actually breaks through this resistance level, a rapid increase may occur from here before any short-term distribution happens.

The trend line established since mid-June has also shown its role as an effective launch pad, further reinforcing the bullish scenario.

Suzzy's scenario complements the price forecast for Solana in the zone of $280–300 that other analysts have also provided.

According to her analysis, Solana's breakout is still holding strong and has the potential to prepare for a next strong surge — as long as the trading volume is sufficient to push the price above the important resistance level at 206 dollars.

Dinh Dinh