For aggregated factors:$SOL
Current price and market activity
The current price of SOL is between $206–$208, with an estimated increase of about 4–5% over the past 24 hours, and around 24% over the past week.
The trading volume over 24 hours ranges between $11.7 billion to $12.2 billion, with a market cap close to $110–112 billion.
Technical developments and analyses
The currency has surpassed the psychological resistance level at $200 after a sharp rise of about 15% in one day.
Technical analyses indicate a break of a downward line and stabilization of the price above the 100-hour moving average, enhancing the likelihood of continued upward movement towards $202–$205.
Some technical estimates see that continued momentum may drive the price towards the range of $250–$350 if a real break above $200 occurs.
Indicator in the near future (up to mid-August): Some analyses expect SOL to reach $175–$180 if it maintains support around $166–$168, and if it surpasses resistance at $182, it may head towards $195.
Some forecasts see a slight drop below $202 in the following day.
Core support factors
Reports from news sources and several localities record institutional adoption such as Coinbase in partnership with Squads Protocol and Blue Origin for SOL or its use in the payment system, enhancing positive momentum.
AI forecasts like Google Gemini indicate strong potential for Solana during the upcoming months and even the holiday season (White Christmas).
The macroeconomic environment, such as the prospects of interest rate cuts in the United States, supports attracting funds towards riskier assets like cryptocurrencies, including SOL.
The broader market for Bitcoin and cryptocurrencies in general is witnessing increases and upward pressure in tandem with Solana.
Outlook and forecasts
Short term (until next week): If SOL maintains its key support (around $170–$180), there is a possibility of visiting $195–$205.
In the coming months: Technical analyses and optimistic articles suggest the possibility of reaching $250–$350, especially with continued institutional adoption and increasing liquidity.
Potential weakness: If it fails to stay above $170 and faces significant selling pressure, it may correct towards $150–$160.
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Summary:
Strong slowdown: The $200 level has been surpassed, creating a potential for an upward surge.
Several positive factors: Institutional adoption, supportive technical indicators, and upward pressure from overall market liquidity.
Potential opportunities: Monitoring prices approaching $205, then $250–$350 - if momentum continues.
But... the risk still exists, especially if the technical support declines.
