Solana Price Soars 2% as Ali Martinez Foresees a Rally to $187 Soon

Highlights:

• Solana price soars 2% to $176, as its trading volume rises 29%.
• Crypto analyst foresees a rally to $187 as SOL shows early stages of a bullish breakout.
• Technical indicators show mixed signals, but if support zones hold strong, SOL could rally above $200.

The Solana price has risen 2.37% to $176, as its daily trading volume skyrockets 29% to $6.1 billion. The Solanaprice as smashed back above $175, after slipping in early August. Moreover, with SOL in the early stages of a bullish breakout, according to Ali Martinez, the bulls could target $187 soon. 

Solana $SOL is in the early stages of a bullish breakout, eyeing a move to $187! pic.twitter.com/Zg7JENEsGX

— Ali (@ali_charts) August 8, 2025

A bullish breakout is also indicated by the derivatives figures of Solana, as per CoinGlass data. A 12.95% increase in trades has been witnessed in the market, with a turnover volume of $22.12 billion showing a high level of interest in Solana. Also, the increase of 1.33% in the open interest indicates that more traders are predicting further upward movement in Solana. The chart information indicates that more positions are being opened on Solana. Notably, the long-short ratio points out that traders are preparing in case there is a price change.

Nevertheless, the sharp increase in the number of long positions (2.54) at Binance and the intake of large volumes of liquidation show an intense bullish grip. Moreover, it can be seen in the liquidation data that big-scale traders and investors are possibly in the crunch, considering the liquidation time of $15.67million in 24 hours.

Solana Price Bounces Back Above $175 – Can the Uptrend Continue?

The Solana price daily chart paints a bullish picture where the altcoin’s price action just bounced from a $158 local low. The SOL price has flipped above both the 50-day Simple Moving Average (SMA)(163) and 200-day SMA($160). That’s a bullish signal, where both moving averages are trending upward, and the price is riding above them. If the Solana key support zones keep holding strong, the asset may rally towards $200 over the weekend.

The RSI (Relative Strength Index) at 53.63 is sitting near the neutral zone, not overbought yet, which gives room for more upside without an immediate pullback. Meanwhile, the MACD is showing a looming buy signal, as the MACD line is pushing towards positive territory. Until then, traders should be cautious unless the MACD flips above the signal line. 

Can the Bulls Sustain the Momentum and Rally Towards $206?

If Solana price faces rejection at the $190-206 resistance, there could be a dip back to $163-$160 support zones. Further, the sell signal from the MACD indicator still shows some bearish sentiment in the SOL market. Below that, SOL bears may take the upper hand, dwindling the asset towards $127. 

However, Solana’s trading volume has exploded in the last 24 hours by over 29%, backing the current breakout move. Historically, SOL’s price follows a good bounce after breaking patterns like such. Solana price has the potential for a short-term pump to $193-$206 if momentum holds. In a highly bullish breakout, SOL may rally towards $250 by the end of Q4.