Bitwise Sees Solana Hitting Records in 2026: Major Rally Incoming?
Solana last peaked at $294.33 in January 2025 and is now trading nearly 58% below that level, according to CoinMarketCap data.
Bitwise analysts believe this pullback is immaterial when compared to the benefits of Solana, i.e., fast transaction speeds, low costs, and increasing developer activity.
The forecast assumes that institutional adoption and on-chain usage continue to expand over the next year, making SOL the next crypto to explode in 2026.
Solana ETFs remain popular as well. SoSoValue shows that SOL ETFs recorded nearly $11 million in net inflows on December 17. Bitwise’s product led the inflows with about $7 million in a single day and now has total assets worth about $613 million.
SOL Price Analysis: $250 Target Next?
SOL dropped by 4% over the past 24 hours, losing the $130 support zone. This pullback followed a broader bearish swing across crypto, with the total market value dropping about 1%.
The chart below shows SOL trading inside a downward channel, with the price recently tapping a strong demand zone near the $118-$120 region. The level has previously acted as a base for rebounds.
Meanwhile, momentum indicators remain weak, but selling pressure appears to be slowing near this support band.
Source: TradingView
If the support fails, the next bearish target sits near the $115 level. On the other hand, a recovery above $135 would be an early signal that sellers are losing control, opening the path toward the $145-$150 resistance range and eventually, the $250 price target.
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