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- Solana forms a large symmetrical triangle, signaling a potential breakout toward the $400–$418 zone.
- Over 24.5 million SOL were accumulated around $189, marking a strong institutional support area.
Solana (SOL) is back on the radar after its technical chart revealed a pattern rarely seen in the crypto market: a large symmetrical triangle approaching a crucial point.
Popular analyst Azyra views this structure as a sign that Solana is gathering steam before a stronger upward movement. In his analysis, he even sees potential for a rally to break through $400 soon.
The pattern Azyra observed shows two major, narrowing trendlines. The upper blue line acts as significant resistance, while the lower line serves as a key defensive area around $180–$185.
This pattern reflects a long consolidation phase, where each time the price touches support, buyers emerge and prevent the price from falling further. He describes this movement as being like a compressed spring—the longer it’s compressed, the more energy it’s ready to release when a breakout occurs.
Massive On-Chain Accumulation Reinforces Bullish Setup
Interestingly, this technical view is now reinforced by on-chain data from analyst Ali Ali Martinez. He reported that 24.5 million SOL have accumulated around the $189 level, making it a key support zone that is currently in the spotlight.
With such a large accumulation volume, this area is not only a place where buyers are active, but also serves as a psychological foundation that strengthens market confidence in Solana.
24.5 million Solana $SOL were accumulated around $189. That's now a major support zone to watch! pic.twitter.com/fj0VdPm6NL
— Ali (@ali_charts) October 29, 2025
Furthermore, large accumulations in one price area usually signal that large investors—both institutional and influential individuals—are starting to prepare for the next move.
If the SOL token can hold above that level and break through the resistance area of $210–$220, the opportunity to reach Azyra’s technical target of $320 to $418 will be wide open. However, he also warned that if selling pressure increases, the $150–$160 area could be the next retest point.
Solana Gains Momentum with Institutional and DeFi Support
Furthermore, fundamental factors appear to be supporting this bullish scenario. CNF reported that Hong Kong recently approved the first Solana spot ETF in Asia, a move that expands access to regulated crypto investments.
This ETF product is managed by China Asset Management and will begin trading on October 27th with a minimum entry of around $100. This approval strongly signals that Solana is gaining institutional acceptance in the Asian region.
Support for the Solana ecosystem is also coming from the DeFi sector. In mid-October, Uniswap officially added the Solana network to its Web App, making it easier for users to exchange tokens across networks without complicated steps.
Uniswap even hinted that it is developing bridging and cross-chain swap features to further streamline the user experience. This move signals that Solana’s integration into a major platform like Uniswap can strengthen liquidity and expand the network’s active user base.
Meanwhile, as of the writing time, SOL is changing hands at about $194.93, up 0.43% over the last 4 hours and 5.08% over the last 7 days.
