After Solana (SOL) broke through the key $200 psychological level, a trading expert projects that the cryptocurrency still has momentum, with a potential path toward $1,000.
According to Master Ananda’s outlook, the ongoing rally marks the start of a much larger bullish cycle. He noted that while Solana’s recovery may feel gradual, the move from the April 7 low to July 21, just 98 days, is relatively quick, as he explained in a TradingView post on July 21.
With an all-time high of $295, Ananda believes resistance will be cleared with ease, similar to Bitcoin’s (BTC) recent breakout, which culminated in a record high above $123,000.
The expert now expects Solana to reach $420 in the mid-term, with $620 and $1,000 as potential upside targets in the current bull market. Notably, a rally to $1,000 would mark a 400% gain from current levels.
Technically, Solana recently broke out of a long-term bullish consolidation, clearing a triangle pattern that formed between April and June 2025.
SOL next price levels to watch
SOL is now trading above the 55-day EMA, 144-day EMA, and 200-week MA, confirming a strong trend reversal. Fibonacci extension levels point to upside targets at $252.91, $419.78, $620.35, and $1,021.49.
Ananda attributed the aggressive price targets to Solana’s broader market cycle. In this line, the sharp 60% correction in January 2025 likely marked the bottom, setting the stage for a renewed uptrend.
To this end, the expert compared Solana’s structure to Bitcoin’s, suggesting that after a new high, SOL is more likely to consolidate and continue higher than to crash.
At the same time, strong on-chain metrics are also fueling Solana’s momentum. Notably, the asset reclaimed the $200 level as Open Interest hit a record $11.03 billion on July 21, up from $9.52 billion just days earlier, according to Coinglass.
The surge in Open Interest reflects rising capital inflows into the derivatives market and growing trader confidence.
Solana price analysis
At press time, Solana was trading at $200.43, up nearly 5% in the last 24 hours and 25% over the past week.
As it stands, Solana is trading well above its 50-day ($155.95) and 200-day ($152.29) simple moving averages, reinforcing the bullish structure. However, the 14-day RSI at 79.04 suggests overbought conditions, potentially hinting at a short-term pullback or consolidation.
Featured image via Shutterstock
