Solana has regained momentum after reclaiming a critical support level, sparking optimism among market observers about the potential for significant price advances. Rising trading activity and a robust tokenized-equity ecosystem are contributing to renewed interest in the Solana network, reinforcing its bullish technical outlook.
Analysts identify key upside targets
According to crypto analyst JAVON Marks, Solana (SOL) appears to be entering the early phases of a major move. Marks projects that if SOL continues its recovery, it could target $233.8 in the medium term. Should momentum persist and this resistance is breached, Marks envisions a possible extended rally toward $456.
Solana’s latest uptrend follows a notable recovery from its summer lows, when SOL bottomed near $58 and spent most of July consolidating below $82. The subsequent breakout saw the token surpass $107, which established a more constructive bullish structure for the digital asset.
TradingView data reveals that after this move, SOL shifted from consolidation to a fresh recovery phase. The token recently traded at $101.64, marking a 2.38% gain on an intraday basis. For analysts, maintaining price action in this region will be important in determining the robustness of the rebound.
Technical signals support continuation
Technical indicators underline this renewed strength. SOL currently trades above its 20-day exponential moving average (EMA), now at approximately $99.75, acting as a dynamic support. Bollinger Bands have widened with increased volatility; the upper band sits at $107.54 and the lower at $97.88.
Marks estimates that the projected move to $233.8 would represent an increase of over 120% from current price levels. He emphasizes, however, that this is a projection rather than a certain outcome, and cautions that SOL must firmly sustain above resistance before higher targets become realistic. Should SOL break through $233.8, the case for further gains toward $456 would be reinforced, provided that bullish momentum and favorable liquidity conditions persist.
Marks points out that achieving a push above $233.8 could further strengthen the bullish thesis, while reaching $456 would require a sustained build-up in both price and participation across the market.
Recent derivatives data from CoinGlass underscores growing market activity. The 24-hour trading volume for SOL surged 71.35% to $5.86 billion, illustrating substantial participation. Meanwhile, open interest declined slightly by 0.84% to $5.92 billion, suggesting that the latest rally did not rely heavily on leveraged positions.
The combination of rising spot volume with flat or declining open interest may reflect genuine buying interest rather than speculative positioning, though traders continue to watch for simultaneous increases in both metrics to confirm sustained bullish momentum.
Tokenized-equity adoption and ecosystem growth
Alongside technical signals, Solana is witnessing unprecedented growth in its tokenized-equity ecosystem. Data indicates that tokenized-equity supply on Solana has reached a record $684 million, up 47% over the past three weeks. This expansion is occurring across multiple platforms, including xStocks, Ondo, Backpack Securities, Sunrise, Superstate, and Securitize. As a result, hundreds of tokenized stocks and ETFs are now available on the network.
The growth in tokenized real-world assets reflects a broader shift within financial markets. While established markets have long depended on complex brokerage systems, Wall Street is increasingly engaging with Web3 infrastructure. Investors are now turning to solutions like 1stepSwap, where they can hold shares of major US companies, gold, and silver directly in their crypto wallets. These platforms tokenize real-world assets and automatically locate optimal market prices within seconds, removing the need for intermediaries.
Multiple platforms on the Solana network, such as xStocks and Securitize, now offer wide access to hundreds of tokenized stocks and ETFs, marking a rapid expansion in on-chain real-world asset adoption.
With these developments, Solana faces a critical technical juncture. Maintaining support above $99.75 is viewed as essential for sustaining the current bullish setup, while breaking above the $107.54 Bollinger Band resistance could signal further strength. If SOL continues to post higher highs with robust participation, Marks’ price projection of $233.8 will gain credibility, with the $456 mark forming a potential next target. However, the network remains sensitive to broader market volatility as momentum and ecosystem growth compete with external headwinds.
