Key takeaway:
After soaring to a six-month high of $209 last week, Solana (SOL) retraced as much as 16% to a low of $175 on Tuesday. The SOL price has since rebounded to the current level of $180, with multiple indicators suggesting that its uptrend toward $260 remains intact.
Solana charts converge at $260 SOL price target
Data from Cointelegraph Markets Pro and TradingView shows SOL trading within a bull flag in the daily time frame, as shown in the chart below.
A bull flag is a bullish continuation pattern in technical analysis, forming a falling channel after a sharp price rise, signaling consolidation. It typically resolves with an upward breakout, continuing the initial bullish trend.
The price is facing resistance from the flag’s upper boundary at $190. A daily candlestick close above this area will clear that path for SOL’s rise toward the bull flag’s target at $258, representing a 41% increase from the current price.
Zooming out, SOL’s price action has been nurturing a V-shaped recovery chart pattern in the weekly time frame since late 2025, as shown below.
A V-shaped recovery is a bullish pattern formed when an asset experiences a sharp price increase following a steep decline. It is completed when the price moves up to the resistance at the top of the V formation, also known as the neckline.
SOL appears to be on a similar trajectory, and bulls need to flip $200 back into support in order to increase the chances of the price rising to $220. Higher than that, the next logical move would be the neckline at $260 to complete the V-shaped pattern. This would represent a 43% increase from the current price.
The relative strength index has increased to 54 from 34 over the same period, suggesting that the bullish momentum is steadily picking up.
The charts above also reveal that SOL is trading above all the major moving averages on both the weekly and daily charts, suggesting areas of strong support on the downside. In the lower four-hour time frame, the altcoin is sitting above the 100-day and 200-day SMAs, reinforcing SOL’s bullish case.
Related: Pump.fun reclaims Solana top spot as memecoins rebound in August
Solana analysts agree SOL price upside is not over
Several analysts have also predicted further gains for SOL, with technical analyst Jonathan Carter saying that an ascending triangle pattern projects a massive upward breakout.
“Solana is retesting the upper boundary resistance again after a previous fake-out on the daily chart,” the analyst said in an X post on Tuesday, adding:
“A confirmed bounce from this zone could validate the bullish structure and send the price toward targets at $205, $225, and $268.”
SOL price has formed a series of higher lows after recovering from the $124 level reached on June 22. The latest recovery from an uptrend line connecting these higher lows offers a “perfect bounce” that is set to propel SOL toward its $295 all-time highs, according to analyst Crypto King.
The $SOL chart is pure poetry.
Perfect bounce from the uptrend support, higher lows confirmed.
No need to overthink. Targeting the range highs at $295. pic.twitter.com/PrLu4R1CXm
— Crypto King (@CryptoKing4Ever) August 19, 2025
Besides traders, multiple onchain metrics and indicators, including DeFi dominance, growing fees and high transaction throughput, sustain network demand, boosting investors’ long-term confidence in SOL’s price.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
