- Solana price shows strong support between $158–$166, setting the stage for a potential rally to $255.
- Phantom’s acquisition of Solsniper boosts Solana DeFi infrastructure and retail appeal.
- A whale moved $12M in SOL to DeFi platforms, signaling growing confidence in Solana’s future.
Solana price has been gaining attention due to its potential for a price breakout. Analysts are observing strong support around $158 to $166 and predicting that Solana could surge toward $255. Key events, such as the growing DeFi integration and whale activity, are shaping this positive outlook for Solana’s future.
Solana Price Key Support Levels Signal Potential Price Surge
Solana price has recently been consolidating just above the $166 support zone. This level has proven to be a strong point for buyers, with many analysts seeing it as crucial for future price action.
Analyst Mary Emerald pointed out the formation of a Golden Cross pattern on the daily chart, which often signals bullish trends. She also mentioned that if Solana maintains its position above the $158–$166 range, the price could rise to $206, and potentially reach the $255.93 target.
Source: CoinMarketCap Community
Emerald’s analysis suggests that if buyers defend this support zone, it will increase the likelihood of Solana continuing its upward movement. However, resistance levels around $189 and $206 must be broken for a sustained rally. As long as Solana stays above the key support, the forecast remains positive.
DeFi Activity and Whale Movement Strengthen the Bullish Case
Phantom’s recent acquisition of Solsniper, a high-speed Solana-based analytics platform, is strengthening Solana’s DeFi ecosystem. This move helps Phantom expand its role as a consumer finance hub, offering wallet tracking, token analytics, and instant execution. As user activity on Solana grows, this acquisition is expected to drive deeper engagement and attract more retail traders.
Lookonchain reported that a whale withdrew 71,000 SOL, worth $12 million, from Binance and transferred it to Kamino, a yield-producing DeFi platform. This highlights increasing investor confidence in decentralized finance and self-custody strategies.
Additionally, Coinglass analytics revealed a net outflow of 21.05 million on August 5, pointing to a trend of reducing sell-side pressure. These outflows are often seen as accumulation, which strengthens support zones and could lead to a significant breakout.
Source: CoinGlass
With the combined influence of Phantom’s growth and whale activity exiting centralized exchanges, analysts see the potential for Solana’s price to reach $255, especially if support levels between $158–$166 hold.
Read Also:
