Solana Gains Momentum After Market Correction
Solana (SOL) has rallied 70% from its June 22 lows of $125, driven by renewed altcoin market optimism. The token briefly struggled to break resistance near $220, leading to a dip below $200 earlier this month. However, it has since recovered, showing strong signs of continued bullish momentum. Market analysts now compare Solana’s recovery path to Ethereum’s earlier breakout. With technical and onchain data aligning, confidence in a $300 target is growing rapidly.
Total Value Locked Hits Record $12 Billion
DefiLlama data shows Solana’s total value locked (TVL) has surged to $12.27 billion, a record high for the network. This represents a 57% rise since late June, when TVL dropped to multimonth lows of $7.8 billion.
Raydium led growth with a 32% increase, followed by Jupiter DEX and Jito staking protocols. Rising TVL highlights stronger liquidity and increasing DeFi participation. The momentum places Solana ahead of other top blockchains, even surpassing Ethereum’s L2 ecosystem in TVL.
Memecoins Boost Solana Network Activity
Solana’s memecoin sector has also surged, contributing to higher trading volumes and network demand. Collectively, Solana-based memecoins have seen market caps grow 70% since June, now valued at $12.4 billion. Trading activity reflects this growth, with memecoin-related DEX volume jumping 73% in just 24 hours. Analysts see this as a strong signal of user engagement and speculative demand. Memecoins continue to drive Solana’s onchain adoption at an impressive pace.
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V-Shaped Recovery Pattern Signals Bullish Outlook
Solana’s price charts reveal a classic V-shaped recovery pattern forming since early 2025. This pattern signals a strong rebound after a sharp decline, often preceding major breakouts.
Currently, SOL trades between $200 and $240, just below the pattern’s neckline at $252. A breakout above this level would confirm the bullish trajectory toward $295 and beyond. Technicals suggest Solana could reclaim its all-time high in the near term.
Analysts Eye $300 as Next Price Milestone
Market analysts have turned increasingly bullish on Solana’s near-term outlook. Trader Jussy noted that a break above $220 would likely push SOL toward $270 quickly. Another analyst, Kepin, predicted further gains to $290-$300, aligning with the V-shaped breakout projection. The relative strength index (RSI) has climbed to 62, confirming stronger momentum. Longer term, some forecasts even suggest a potential $1,000 peak if ETFs and institutional demand accelerate.
Institutional Interest Adds to Bullish Case
Institutional adoption is becoming a stronger driver of Solana’s growth prospects. Reports suggest spot Solana ETFs could be approved in the U.S., creating a new wave of capital inflows. Additionally, institutional treasuries are beginning to consider SOL allocations, boosting long-term demand. These developments mirror Ethereum’s trajectory during its major bull runs. With ETFs and treasury adoption, Solana could achieve new levels of credibility and liquidity.
What Traders Should Watch Next
For now, Solana must break above $252 to confirm the bullish V-shaped breakout. Key support levels remain near $200, while resistance lies at $295–$300.
Trading volumes and memecoin activity will play an important role in sustaining momentum. Analysts advise monitoring RSI and funding rates to gauge whether momentum remains healthy. If SOL clears resistance, $300 and potentially $350 are realistic short-term targets.
