Solana Price Prediction: Can SOL Break Past $190 Resistance Ahead of Major Announcement?

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Solana Price Prediction: Can SOL Break Past $190 Resistance Ahead of Major Announcement？

Solana price is showing renewed strength after rebounding from key support, with participants eyeing a breakout above $190 ahead of an anticipated ecosystem announcement.

After a volatile week across the crypto market, Solana price has bounced back with surprising strength. The price recovery from the $174 region has reignited optimism among participants, with market watchers pointing to improving momentum and bullish divergence forming on major indicators

Solana Price Sees Strong Recovery Momentum

Despite the recent corrective pressure, Solana price has shown a solid bounce from the $174 to $175 support zone, forming a clean higher low setup. ShangoTrades now points towards $189 and $192 as the next key resistance levels, which align with the 0.618 and 0.75 Fibonacci retracements. This recovery comes after a strong 6–7% rebound within a single day, indicating that buyers are gradually regaining control.

Solana rebounds sharply from the $174 support zone, posting a 7% daily surge as bulls target the $190 resistance. Source: ShangoTrades via X

If Solana price can sustain this momentum and close above $190, it would confirm a short-term reversal, opening room for further gains towards $198 to $200. The recovery structure suggests that bulls are pushing back firmly after a sharp correction phase.

Bullish Divergence Supports the Solana Price Recovery Setup

A clear double bottom structure has emerged on the chart, with bullish divergence visible on the RSI, a signal that downside pressure may be fading. Price has successfully held the $170 to $172 range, where previous demand was seen.

Bullish divergence forms as Solana holds the $170 support, signaling early reversal signs with RSI turning upward. Source: Fresh_Fontana via X

Momentum indicators have started curving upward, and if Solana clears $186 to $188, it could trigger a stronger recovery wave. As Fresh_Fontana highlighted, this divergence between price and RSI often precedes early bullish breakouts, especially when volume starts to rebuild from oversold zones.

Solanas Upcoming Catalyst Could Fuel Reversal

Cointelegraph revealed that Solana has teased a major announcement scheduled for October 20, sparking renewed interest among investors. Such events have historically triggered strong short-term rallies as market participants position ahead of major ecosystem updates.

Solana teases a major October 20 announcement, fueling optimism for a potential breakout above $190. Source: Cointelegraph via X

If this announcement aligns with bullish sentiment already forming on the chart, it could reinforce the ongoing recovery. Participants may watch how Solana price reacts around the $185 to $190 resistance area before the reveal, as a confirmed breakout could mark the start of a broader reversal trend.

Solana Price Prediction: Mid-Term Upside Targeting $270

Despite recent volatility, the broader trend remains constructive within an ascending channel, as shown in Satoshi Flippers chart. Solana continues to respect its channel structure, with key support near $170 and upper resistance stretching towards $260 to $270.

Solana maintains its ascending channel, eyeing a potential climb toward $270 if support near $170 continues to hold. Source: Satoshi Flipper via X

If the lower trendline holds, the next upside leg could lift Solana price towards $220 to $230 initially, followed by the $270 mark as the extended target. This channel has guided the market since early summer, and maintaining its base structure would keep the mid-term bullish outlook firmly intact.

Stablecoin Outflows a Short-Term Concern for Bulls

Coin Bureau noted that around $400 million in stablecoins exited the Solana network in the past 24 hours, a sign of temporary risk-off behavior among participants. While this suggests short-term caution, such outflows have often occurred before strong re-accumulation phases. If Solana manages to retain its technical structure above $175, these short-term liquidity shifts may not pose a major threat.

Over $400 million in stablecoins exited the Solana network, hinting at short-term caution despite solid technical support near $175. Source: Coin Bureau via X

Final Thoughts: Solana Price Building a Base for Recovery

Solanas latest rebound from $174 combined with improving RSI conditions and an upcoming announcement, paints a constructive short-term outlook. While stablecoin outflows may signal caution, the technical picture shows firm defense around key support zones.

If Solana price closes above $190 to $192, momentum could accelerate toward the upper channel targets near $220 to $230, and potentially $270 in the coming weeks. The combination of technical strength and fundamental anticipation continues to favor a recovery bias for now.