Solana Price Prediction: SOL Breaks Through $190 Approaching Key Resistance, Golden Cross May Trigger 30% Big Pump

The price of Solana (SOL) rose by 5.63% on July 21, successfully breaking through $190, reaching a new five-month high. It is currently approaching the key resistance level of $200, with technical indicators about to form a "golden cross" signal, which could trigger a new round of 30% rise. At the same time, 21Shares is optimistic about the growth of the Solana network, believing it will eat into Ethereum (ETH) market share.

SOL forms a golden cross, which may trigger a new round of rise

In the past five months, the price of Solana has performed weakly, failing to return to its historical highs multiple times. However, with the recent rise of the SOL price above $190, the market has welcomed a new turning point.

On the technical front, the 50-day Exponential Moving Average (EMA) of SOL is approaching the 200-day EMA. Once it breaks through, it will form a "golden cross" signal, indicating that short-term upward momentum is strengthening, which may trigger a sustained pump.

It is worth noting that this signal appeared after Solana experienced a "death cross" in April. At that time, SOL plummeted from $184 to a low of $95. The current "golden cross" may indicate a complete reversal.

According to the Fibonacci extension targets, if the upward trend continues, Solana may short-term reach the 161.8% retracement level of $245, which is about a 30% rise from the current price. If buying pressure remains strong, SOL may even challenge the historical high of $294 and break through the $300 mark for the first time.

However, the premise of this rise path is that SOL can successfully break through the key resistance area between 194 and 199 dollars. From the current market sentiment, this target may not be out of reach, especially against the backdrop of the rising ADX indicator, which shows that bullish strength is increasing.

21Shares: The Solana network is expected to surpass Ethereum

Despite Ethereum still dominating the recent altcoin rebound, 21Shares pointed out in its mid-year crypto market report that Solana is expected to eat into ETH's market share.

The report indicates that institutions like DeFi Development Corp are actively purchasing SOL, which may provide strong support for the price. In addition, the TVL (Total Value Locked) of the Solana network is also expected to reach new highs in the coming months, surpassing the record of $11.75 billion set in January 2025 (data from DeFiLlama).

As the technical indicators resonate with the bullish sentiment of institutions, more and more traders may flock to the SOL market due to the "golden cross" signal and the optimistic expectations from 21Shares, driving it further up to $245 or even higher in the short term.

Conclusion: Solana has broken through the important psychological barrier of 190 dollars, combined with the golden cross technical signal and institutional bullish sentiment, providing investors with a potential rise opportunity. For crypto users, paying attention to the progress of the Solana network ecosystem and price breakout can help seize key opportunities in the next round of altcoin market.