Solana's Counterattack: Is $190 the Endpoint or the Starting Point?

SOL has made a comeback today, directly rising to $157 with a violent rebound during the day, taking the top spot on the crypto hot list. Don’t think this is just a single-point explosion; in fact, the firepower behind this surge is fully unleashed: Web3 hardware, on-chain DEX, and ETF are all hitting the market simultaneously.

First, the Solana ecosystem launched the mobile device Seeker, raising expectations for Web3 users. Following that, Bybit CEO Ben Zhou officially announced the launch of Byreal—the first on-chain DEX built on SOL, set to go live at the end of June, which got the market excited. Even more significant is the good news from the ETF battlefield in the US: Fidelity has directly applied to the SEC for a Solana spot ETF, and Invesco-Galaxy is not far behind, creating a Delaware Trust version. The signal for institutional entry is more real than the candlestick charts.

Let’s not forget that on-chain activity data is also soaring, with Solana’s active addresses doubling compared to Ethereum, boasting 45.77 million user activities, directly proving that developers and users are flocking in, and it's not just empty hype.

From the chart, SOL has rebounded above the 20-day moving average of $155, and the RSI is slowly rising from the oversold zone, technically supporting a bullish outlook in the short term. If it can break through the upper Bollinger Band at $169-$170, a short-term target of $185-$190 is not out of reach. But don’t forget, if it can’t hold the support at $155, the possibility of dropping to $141-$144 still exists.

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