Over the past month, Solana (SOL) has risen about 10%, but it still trades below the psychologically important $100 mark.
A well-known crypto analyst is optimistic that SOL could climb well above that level, but such a breakout would require clearing a key resistance zone.
The Necessary Conditions
At press time, SOL trades near $91, with a market capitalization just under $53 billion. Analyst Ali Martinez notes that the price has been confined to a clear channel since February, with the upper boundary around $98 and the lower boundary near $78. He forecasted a potential bounce if SOL can successfully break above the channel ceiling and identified $88 as a critical pivot point.
“We recently tested that $98 resistance, which resulted in a quick rejection. Now, I am seeing Solana bounce. This suggests we could be gearing up for another retest of the channel top to determine if a breakout is finally in the cards,” he said.
Martinez argues that a daily close above $98 could pave the way for a move toward $107, with a secondary target at $117. Conversely, if $98 remains a strong resistance, the price could fall back toward $88 and even revisit the $78 channel floor.
Earlier this month, Martinez described the $77–$94 range as a “no-trade” zone and suggested that renewed buying pressure could push the price up to $96. Previously he observed that SOL’s Bollinger Bands had compressed, a pattern that historically precedes a significant breakout, though the direction—up or down—cannot be determined from that signal alone.
Another commentator on X, Globe of Crypto, added that a close above $99 could trigger a substantial advance, potentially moving SOL toward the $160–$170 range.
The Bold Forecast
X user Marino offered a much more aggressive long-term projection, predicting that SOL could exceed $500 in the coming years. He cited accelerating adoption, increasing on-chain usage, rising network value, growing staking activity, and the launch of new applications as reasons for a strengthened Solana ecosystem.
Marino also pointed to inflows into spot SOL exchange-traded funds as a potential catalyst. Data indicate these ETF products have recently attracted millions in fresh capital, and since launch they have recorded cumulative net inflows of roughly $1.12 billion.
“If Solana keeps compounding adoption at this pace into the next cycle and macro conditions are favorable, then $500+ in 2029 feels absolutely possible,” Marino concluded.