- Solana eyes a $210 retest as a high-probability buy zone before targeting $320, per ICT-inspired analysis.
- UK FCA’s new crypto rule proposals could stabilize markets and boost institutional inflows into $SOL.
- Rising channel on daily charts signals strong uptrend resilience amid altcoin rotation.
In the volatile world of crypto, Solana ($SOL) continues to steal the spotlight as a high-beta play on Bitcoin’s steadiness.
Fresh analysis from trader Ali (@ali_charts) on X paints a bullish picture: $SOL could dip to retest its breakout zone around $210 before catapulting toward $320.
This isn’t just chart gazing—it’s a textbook setup rooted in smart money flows, amplified by today’s seismic shift in UK regulations. The chart, a daily SOL/USDT perpetual on Binance, reveals a resilient uptrend. From March lows near $110, $SOL has carved a rising channel, bouncing off supports with surgical precision. Currently trading at $234 after a -1.09% dip, the token hovers above the critical $210 level— a confluence of the channel’s lower boundary and prior resistance turned support. Ali’s projection aligns with historical patterns: post-breakout retracements often fuel explosive legs higher, targeting the next Fibonacci extension at $320, a 37% upside from here.
This move echoes the ICT (Inner Circle Trader) Market Maker Buy Model (MMXM), as highlighted in replies from analyst BAARUT. Institutional whales love these liquidity grabs, accumulating in the $194–$218 “buy zone” before expansion. Solana’s relative strength against BTC underscores this: while alts flounder, $SOL’s DeFi dominance and meme coin frenzy keep TVL soaring past $5B. Add in network upgrades like Firedancer for sub-second finality, and you’ve got a recipe for sustained pumps.
Timing couldn’t be better. Today, the UK’s Financial Conduct Authority (FCA) dropped proposals to tailor existing financial rules for crypto firms, exempting some from stringent “integrity” checks while mandating good practices.
This isn’t heavy-handed overreach—it’s a pragmatic nod to innovation, potentially unlocking billions in institutional capital. With stablecoin regs clarifying and MiCA vibes crossing the pond, London could rival Singapore as a crypto hub, drawing flows straight to liquid assets like $SOL.Of course, risks lurk: a BTC dump below $60K could drag alts into the abyss, and macro headwinds from Fed whispers persist. Yet, with on-chain metrics flashing green—active addresses up 20% WoW— the setup screams opportunity. Traders, eye that $210 bounce; it’s your green light for longs with tight stops.
As Solana cements its Ethereum-killer status, this retrace might just be the calm before the storm. Buckle up—$320 isn’t a moonshot; it’s math.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
