Technical analysis by cecilion1998 about Symbol SOL: Buy recommendation (7/21/2025)

Solana (SOLUSD) is currently trading around $190, and technical analysis suggests it may be on the path to doubling in price toward $380. This projection is supported by both a bullish ascending channel and Fibonacci extension levels, providing confluence for an extended rally. Using this combined strategy, I’ve identified 4 key targets: Target 1: 0.786 Fib – 205.99 - mid-range target within the upper half of the channel Target 2: 1.272 Fib – 328.42 - aligns with historical breakout levels Target 3: 1.618 Fib – 415.57 - Last Fibonacci Targets Target 4: projected top of the current channel near 482.24 Beyond the technicals, Solana’s ecosystem continues to outperform many other Layer 1 chains, offering faster transaction speeds, lower fees, and robust DeFi and NFT activity. This fundamental strength supports the technical bullish thesis. As always, breakout confirmation and volume are key. Manage risk accordingly.