Solana Recovers From $160 Slump, Sets Sights on 14% Surge to $210: Solana's Market Projection

After bouncing back from a $160 support level, Solana (SOL) is showing signs of sustained upward momentum, with market analysts predicting a potential 14% surge towards a $210 target. The recovery follows a series of minor pullbacks that have not disrupted the prevailing uptrend. Notably, the bullish trend is also reflected in the movement of whales, with over $40 million in SOL transferred to exchanges and some locking in substantial profits.

Concurrently, Hong Kong has approved Solana for retail trading, making it the fifth cryptocurrency to receive such clearance, along with Bitcoin, Ethereum, Avalanche, and Chainlink. Despite a 4% drop in the last 24 hours, SOL maintains a 3% gain on the week, with a trading volume of $5.90 billion.