Solana continues to outperform the broader crypto market. While the overall market is up just 0.5% in the past 24 hours, Solana’s price is up nearly 3% at press time, continuing a steady upward trend from the past three months.
The token rose around 37% during this period, showing consistent strength despite the market slowdown. But it’s not the short-term movements that are more interesting. New technical and on-chain indicators suggest that Solana is not only poised for further upside, but could also break out of its all-time high near $293.
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Hidden signals that suggest SOL’s uptrend is not over yet
A hidden bullish divergence appears on Solana’s daily chart. This is a setup where the price forms higher lows while the Relative Strength Index (RSI) forms lower lows. Traders use RSI to measure momentum and identify whether a move is continuing or slowing.
This pattern often indicates that an uptrend is gaining momentum rather than reversing. The last time Solana exhibited this structure (from April 7th to June 22nd), the price increased by 63.63% in just one month. A similar divergence formed between August 2 and September 25, and about 24% of its potential move has already been executed.
If Solana follows the same trajectory, the price could reach $312 by late October, roughly mirroring the timing and magnitude of the rally to date.
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On-chain data makes this view even more reliable. The NUPL (Net Unrealized Gain/Loss) for short-term holders, which tracks whether recent buyers have earned profits or losses, is currently 0.11. This level usually indicates controlled profit taking rather than overexcitement.
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In previous cycles, the NUPL value has marked local highs around 0.20-0.21, such as in July and September, when short-term holders started selling aggressively. Today’s levels around 0.10 to 0.11 are close to the “stability zone” seen in August, when Solana rose after a small decline.
This suggests there is no risk of a major ceiling yet and the market still has room to move higher, confirming our divergence-driven expectations.
Solana’s pricing suggests room to test higher levels
At the time of writing, Solana is trading around $226 and faces immediate resistance at $251, which coincides with the 0.618 Fibonacci extension, a level often considered a pivot point in a sustained uptrend. A clean close above this mark could push SOL towards $288, before retesting the all-time high of $293, a key psychological level for traders.
If Solana’s price rises above that, the previous fractal predicts a move towards new potential milestones of $312 and even $349.
However, if the price falls below $213 and then below $190, the bullish continuation argument would weaken and signal a short-term pullback or potentially a more severe correction.
