Solana Price Prediction: SOL Reclaims $200 as Market Eyes a Move Towards $220 to $270

Solana, after taking out BNB in market cap and clearing the $200 mark, is now setting the tone for the broader altcoin market. This isn’t just another price spike; it’s a move backed by strong technicals and a surge in on-chain activity.

In a major development that’s likely to ripple through the broader altcoin market, Solana has officially surpassed Binance Coin (BNB) in total market capitalization. According to the latest snapshot from SolanaFloor, SOL now holds a market cap of $107.58 billion, just ahead of BNB’s $106.24 billion.

Solana surpasses BNB in market cap, signaling growing dominance among Layer-1 blockchains. Source: SolanaFloor via X

This milestone also reflects how Solana has quietly become one of the most active and widely adopted Layer-1 networks in the space. As capital continues to shift toward chains that combine speed with scalability, this market cap move may be less about hype, and more about fundamentals catching up.

Following its reclaim of the 5th market cap position, Solana is now turning heads again with a price structure that looks increasingly primed for a retest of its all-time highs. The long-term chart shared by Inmortal shows SOL grinding upward, forming a broad ascending base that mirrors the type of accumulation phase often seen before major expansions.

Solana forms broad ascending base as price structure targets potential retest of 2021 all-time highs. Source: Inmortal via X

What stands out here is the symmetry between the 2021 run and the current buildup. However, this time the foundation seems stronger, both in terms of market structure and network usage.

From a technical perspective, the $200 zone appears to be the current area of gravity, with price steadily grinding higher after multiple clean retests of key demand levels over the last few months. If SOL can maintain this momentum and hold above the $175 to $180 region, the path towards new all-time highs opens up quickly.

Building on its strong market cap momentum and price structure, Solana is now flashing a clean technical breakout on the weekly chart. As shown by Cas Abbé, SOL has just broken above a key resistance level near $180, reclaiming it with follow-through.

Solana reclaims key resistance near $180, opening technical path toward the $220–$250 target zone. Source: Cas Abbé via X

This breakout unlocks the next major target zone around $220, a level that also coincides with the first major resistance block. If this continues, Solana doesn’t just aim for the $220 level; it has potential to accelerate into the $250 to $270 range before any potential signs of pause.

Adding more weight to the recent breakout, Solana just triggered over $48 million in short liquidations as price tapped $204, its highest level in months. According to SolanaFloor, the majority of these liquidations came from on-chain sources, even outpacing centralized exchanges (CEXs), showing how aggressive short positioning had gotten during this move up.

Solana triggers $48M in liquidations as price hits $204. Source: SolanaFloor via X

These liquidation spikes could serve as a momentum driver for Solana. Notably, the single largest liquidation was over $1 million at the exact $204 level. With momentum now flipping bullish, any such liquidations above remain a major price target.

While Solana’s break above $190 may seem like just another technical step, on-chain data suggests it could carry more weight than it appears. According to Glassnode, this level marked a zone where over 8 million SOL had previously been accumulated, creating a dense band of overhead resistance. But now that price is clearing it, the structure shifts in Solana’s favor. What was once a wall of supply may now be thinning out fast.

Solana breaks through $190 supply zone, clearing over 8M SOL in resistance and opening room for accelerated price movement. Source: Glassnode via X

Above $190, the overall supply starts to thin out in those higher ranges. This shift in structure could allow price to move faster if demand continues.

Solana isn’t just reclaiming its spot among the top assets; it’s quietly shifting the narrative around what Layer-1 chains can achieve this cycle. The way supply has thinned out above $190, combined with the recent surge in liquidations, suggests that SOL may now have the momentum and structure to push toward $220 and possibly beyond.