😱Incredible Surge! Solana Absorbs $450 Million, $147 Breakthrough in Sight?🚨💥

Solana (SOL) has absorbed $450 million in bridged assets, generating $88 million in revenue, leading the blockchain scene. Can the price break through $147?

Bridging Craze Boosts

In April, Ethereum contributed $300 million, helping Solana absorb $450 million, highlighting user confidence in its efficient and low-cost cross-chain activities. Funds from DeFi and dApps are flooding in, significantly increasing SOL's liquidity and market utility, maintaining a 41% dominance in Layer-1 revenue.

Liquidation and Price Dynamics

The current price of SOL is $144.59, slightly above the $143.5 long liquidation line, and a drop below it may trigger a correction. The $145-150 short liquidation cluster acts as a "magnet," and breaking through $145 could trigger short liquidations, pushing the price to $147.5 or higher. Shorts are active on exchanges like Binance, creating high volatility risk.

Technical Formation Looks Bullish

SOL's monthly chart maintains an ascending triangle, with support from $120-150 repeatedly pushing the price up. A breakthrough of the $180-200 resistance may lead to a run towards the historical high of $300; a drop below $120 could see a retracement to $85. The trend line has shown strong buying power with five touchpoints, and breaking through $200 could lead to even greater gains.

$147 or Retracement?

With $450 million backing and a bullish technical outlook, SOL is on the verge of hitting $147! Network congestion and market stability are key factors; will it surge or correct? Stay tuned!