Solana Price Prediction: Analysts Eye $290 Fibonacci Extension After Fresh Breakout

Solana’s ecosystem is showing no signs of slowing down, with TVL hitting a new all-time high of $12.1 billion. At the same time, price action is reflecting a strong momentum. SOL has been holding firmly above key supports and now trades at some of its strongest levels in months.

Solana is currently trading at its strongest levels in months, supported by a surge in total value locked (TVL) across its ecosystem. According to DeFiLlama data shared by Cointelegraph, assets locked on the network have reached a new all-time high of $12.1 billion, surpassing previous peaks from the 2021 bull cycle.

Solana’s TVL surges to a record $12.1B, surpassing 2021 highs and reinforcing its position as one of the cycle’s strongest performers. Source: Cointelegraph via X

This expansion highlights how Solana’s DeFi protocols and staking flows are attracting consistent capital inflows, giving the network one of the strongest growth trajectories among major blockchains.

Solana’s TVL is climbing even as broader market conditions remain mixed, showing that capital rotation continues to favor SOL. Sustained accumulation on-chain suggests that institutional products and retail flows are finding common ground here, reinforcing Solana’s position as one of the cycle’s top performers.

Coming off fresh records in network TVL, Solana’s price action is now drawing attention from analyst who see room for significantly higher levels ahead. Altcoin Sherpa points out that with billions flowing into the ecosystem, holding a selling stance looks increasingly risky.

Solana builds a strong base above key moving averages, with analyst eyeing $250 as the next major test. Source: Altcoin Sherpa via X

The chart shows SOL building a solid base while riding support from its moving averages, a structure that often precedes continuation toward higher ranges.

The key zone being discussed sits near $250, a level Sherpa believes could be tested next. With institutional inflows, strong DeFi participation, and consistent buying on dips, the broader setup aligns with a bullish Solana Price Prediction.

Solana has confirmed strength by breaking above an ascending triangle pattern. Analyst Crypto King highlights that this move signals fresh momentum, with price now opening the path towards higher Fibonacci levels. The breakout zone sits near $230 to $235, and holding above it would be crucial for sustaining the move.

Solana breaks above an ascending triangle, with analyst pointing to $260 and $290 Fibonacci targets if momentum holds. Source: Crypto King via X

From a technical perspective, the immediate targets lie at the 0.382 Fibonacci extension around $260 and the 0.618 zone closer to $290, with the measured structure pointing even higher if momentum sustains. Volume expansion will be key here, as stronger inflows would confirm conviction behind the move. Coming after Solana’s record-breaking $12.1B TVL milestone and broader institutional inflows.

Solana is trading at $237.24, marking a 6.31% gain in the last 24 hours, with trading volume climbing above $13.7B. The market cap now stands at over $128.6B, underlining the strong demand and capital rotation into SOL despite mixed conditions across the broader market. Structurally, price has built a sturdy base around the $225 region, with higher lows driving it steadily toward the mid-$230s.

Solana is trading at around $237.24, up 6.31% in the last 24 hours. Source: Brave New Coin

The Solana community, however, is increasingly calling for the $300 mark, framing it as the next big milestone. Hitting that level would require a move of around 25% from current prices, a climb that isn’t out of reach given the backdrop of record-breaking TVL and strong ecosystem flows. For that push to materialize, SOL will need to clear the $250 zone convincingly, which could then open the path towards the $280 to $300 range ahead.