Solana (SOL) started 2025 on a rather slow note but has managed to pick up pace along the way. Entering February, SOL is trading at north of $214 and is up 8% in the last 24 hours. Traders in the crypto community are extremely optimistic about SOL, with community sentiment 85% bullish on the asset according to a 310,000-member vote from CoinMarketCap. One analysis in particular is especially bullish on a further Solana surge coming, projecting the altcoin to break out to $420.
Volatility around Solana’s native cryptocurrency has been up recently and is trading hands at a high rate. The asset’s TV in the last 24 hours is up 129%, with $16.18B worth of SOL trading hands. The altcoin’s market cap is also up to $103.85B, putting it in fifth place amongst all other cryptocurrencies. Additionally, whales appear to be getting active around Solana. A 694,746 SOL transaction worth approximately $165 million occurred between unknown wallets on January 31. Large transactions typically create market attention because these transactions have the power to alter prices dramatically.
One crypto analyst suggests that a breakout is imminent around SOL based on previous price patterns. Solana price behavior shows a correlation to previous market patterns which resulted in major price growth following heightened volatility periods. Market analyst, Trader Tardigrade tracks these patterns for potential future price movements as he plans to reach a maximum price of $420.
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His technical analysis shows Solana repeated its historical behavior before massive price growth. Trader Tardigrade assesses support levels to determine their capability against future pressures that could trigger a price surge. Solana SOL’s retracement period to close out January opens the door to a surge to start February, which could be the catalyst to another slight retracement in the middle month and following surge at the end of February towards $400.
Recent trading sessions show Solana’s price with support at $225 and resistance at $230. The resistance threshold has led to price stabilization happening inside this specific range. Upon the next Solana surge, a new support could be set above the $230 resistance, meaning higher highs are in store.
