Over the past week, Solana (SOL) has been on fire, attracting traders with its sharp price movements and rising network activity.
Current Price: $112.40
24h Change: +5.8% ๐
7d Performance: +18.3% ๐
Market Cap: $49.8B (5th largest crypto)
๐ Market Analysis
Solanaโs surge is fueled by:
1. Institutional Buying โ Multiple reports indicate that hedge funds are adding SOL to their portfolios, citing its low fees & high transaction speed.
2. DeFi Growth โ SOLโs DeFi TVL has jumped 22% in the last 30 days.
3. NFT Revival โ Solana NFTs have seen double-digit growth in volume, rivaling Ethereum marketplaces.
On the technical side:
Support Zone: $108 โ $110 โ
Immediate Resistance: $115 โ $118 ๐ด
Breakout Target: $125 โ $130 short term
๐ Price Prediction
If Solana closes above $118 with volume confirmation, the next leg up could target $125 in days and $140โ$150 in weeks.
However, a failure to hold $110 may trigger a correction toward $102โ$105 before the next rally.
๐ก Trading Strategy (Pro Tips)
Swing Traders: Buy on dips near $110 with stop-loss at $107, target $125+.
Breakout Traders: Enter above $118 with a tight stop, target $140.
Long-Term Holders: Accumulate gradually; Solana still has strong fundamentals heading into 2025.
๐ Chart Insight
Below is the SOL/USDT 4H Chart showing the recent breakout trend, rising volume, and bullish RSI momentum.
๐ฐ News That Could Move SOL
Partnership Rumors: Talks of Solana integrating with major payment platforms could trigger a price explosion.
ETF Watch: Any news of a Solana ETF proposal will likely create massive hype.
๐ฌ Whatโs your Solana target for this month โ $150 or lower? Drop your prediction!