Solana Primed for Breakout as Analyst Predicts Rally to $320

A widely followed crypto trader sees Solana (SOL) preparing for a major breakout, signaling a push toward a new all-time high.

The analyst, known as Bluntz, has built a reputation for making timely market calls and now believes SOL has completed a crucial correction phase, setting the stage for its next leg up.

$sol pullback has also unfolded in a clear abc with the b wave as a triangle, should be enroute to ath from here imo. pic.twitter.com/0rDFfWocSd

— Bluntz (@Bluntz_Capital) January 28, 2025

Solana’s Technical Setup Suggests a Powerful Upside Move

According to Bluntz, SOL’s recent pullback follows a classic ABC correction, a pattern commonly seen before a strong bullish continuation. The analyst, who applies Elliott Wave theory in his market analysis, explains that once this type of correction concludes, it often leads to a five-wave rally, a structure associated with sustained upward trends.

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His chart analysis suggests that Solana has formed a B-wave triangle, a formation that typically precedes a sharp breakout. If the pattern holds, SOL could surge toward $320, a significant jump from its current price of $226. This move would place Solana well above its previous all-time high, reinforcing its position as one of the leading assets in the crypto space.

Institutional Interest and Market Strength Could Fuel SOL’s Growth

Beyond technical indicators, growing institutional interest in Solana has contributed to its strong performance. The network has gained traction among investors due to its fast transaction speeds, low fees, and increasing adoption within the DeFi and NFT sectors. As Solana continues to establish itself as a top blockchain for decentralized applications, its long-term outlook remains bullish.

Additionally, rising participation from large-scale investors has been a key factor in its price resilience. With spot Bitcoin ETFs bringing more institutional capital into the broader crypto market, alternative assets like Solana are benefiting from increased exposure and liquidity.

A Strong Bull Cycle Could Push SOL to New Heights

With bullish market conditions and a favorable technical setup, analysts see Solana well-positioned for further gains. If the anticipated breakout materializes, SOL could become one of the top-performing assets of the current cycle, drawing even more attention from traders and investors.

As the broader crypto market regains momentum, SOL’s ability to surpass key resistance levels could define its trajectory in the coming months, potentially cementing its place among the most dominant digital assets.

Kosta Gushterov