Can SOL break $250 and push toward its all-time high in 2025? (Photo By: Derek Fenech)
Share
Key Takeaways
Solana reclaimed $205 after a brief setback in late 2024.
Despite trading 18% below its all-time high, SOL shows signs of bullish momentum.
A potential rally could push SOL above $250, possibly setting a new all-time high.
Solana (SOL) has experienced a dramatic rise since 2023, surging over 1,200% and reaching an all-time high of $264.32 in November 2024.
However, following this peak, the price faced a sharp 33% decline as 2024 came to a close. Despite the setback, Solana has shown resilience, starting 2025 strong with a rally that saw it reclaim the $205 level — a price point that had proven difficult to maintain last year.
This resurgence has reignited optimism, raising expectations that Solana could soon make another push toward its previous all-time high or even surpass it. Here’s what the charts and recent developments suggest about the future of Solana’s price.
Since September 2023, Solana has increased alongside an ascending support trend line. The increase led to a new all-time high of $264.32 in November 2024. While the SOL price declined in four successive weeks afterward, it started 2025 with momentum, moving back above the $205 area.
Reclaiming the $205 area is especially important since the level acted as the March 2024 high. By reclaiming it, SOL confirms that the December decline (black circle) was just a deviation. If SOL clears the $250 resistance area, it could quickly break above its all-time high.
Technical indicators are bullish. The Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) are both increasing. In addition, they are above their bullish thresholds at 50 and 0, respectively.
So, the weekly time frame gives a bullish SOL prediction, hinting at an increase toward $250.
Positive Solana News
There have been several positive developments about Solana this week.
First, Dean Little, one of the main Solana developers, announced the creation of a quantum-resistant vault called the “Solana Winternitz vault.” This vault generates new private keys for each transaction, making it difficult to plan a coordinated attack.
Second, Solana developers proposed to help the blockchain scale by introducing “Accounts Lattice Hash,” changing how hashes are updated and making the blockchain more efficient. Solana’s AI hackathon is also ongoing, and its projects are cumulatively worth over $500 million.
Lastly, the Sonic Token Generation Event will take place today, Jan. 7. It will reward the TikTok game players through an airdrop.
New SOL All-Time High?
The wave count is even more bullish than the price action, predicting a new all-time high. The count suggests that SOL is in the fifth and final wave of the upward movement (white) that started in December 2022.
If the count is accurate, SOL has one more increase left before reaching its market cycle high. A likely target for the top of this increase is between $270-$300. This is created by giving wave five the same length as wave one (white) and the 1.61 external Fibonacci retracement of wave four.
In case of an extension, SOL can reach $416-$418, targeting the 1.61 Fibonacci retracement of the entire drop since the 2021 high.
The short-term count confirms this since Solana has completed a textbook fourth wave pullback, which happens when SOL returns to the middle of a parallel channel to complete wave four.
The channel is created by connecting waves one and two. SOL also broke out from a short-term descending resistance trend line, adding validity to this bullish count.
Solana Rally Awaits
SOL saved a potential breakdown by reclaiming the $205 horizontal area. The Solana price action and wave count predict another increase in the current market cycle.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
