🚀 Solana bullish signal explosion! Hold $190 support, targeting $210
Recently, Solana (SOL) has seen frequent price movements, bringing strong bullish signals to the market! 💥 Since breaking above $190, this price level has not only held but has successfully turned into solid support, laying a strong foundation for the next wave of rise. Meanwhile, Solana's DeFi ecosystem activity, TVL (Total Value Locked), and institutional investment interest continue to heat up, with short-term targets pointing to $210! 📈
🏗 Support level transformation — $190 has become a solid cornerstone
In the past few days, after SOL broke above $190, it has maintained strong momentum💪. The surge in trading volume indicates that market participants are confident in the confirmation of price breakout. $190 has now become a key support level, while traders' next focus is $210 — also a short-term resistance and potential target price💹.
Market commentator Ted Pillows pointed out that once reclaiming the $210-$220 area, Solana's rising speed may further accelerate⚡.
📊 Technical indicators point to bullish
Short-term charts show SOL's technical momentum is strong:
Moving averages (MA): 5MA, 10MA, 20MA all show an upward trend, with 10MA crossing above 20MA, forming a standard bullish arrangement✅
Relative Strength Index (RSI): close to 70, but not yet in the overbought zone, indicating that upward potential still exists⬆️
MACD: remains in positive territory, and the histogram is green, supporting further price increases📈
In the past hour, SOL has been mentioned multiple times by traders, indicating high market attention🔥. The current price structure shows that SOL has stabilized at the $190 support and is preparing to move towards $210.
🌊 On-chain indicators support the rebound
Solana's DeFi ecosystem shows a healthy growth trend, providing solid support for prices:
TVL (Total Value Locked): reached $11.336 billion, with a 24-hour increase of 1.40%
Stablecoin market cap: close to $11.683 billion, providing liquidity support for DEX and lending protocols💧
Daily network fees: about $1.12 million, indicating active on-chain activity
DEX 24-hour trading volume: about $3.167 billion, active trading
Token buyback volume: increased by 158% in two weeks, accounting for about 40% of the entire crypto market buyback activity
These data indicate that not only retail investors are buying, but on-chain projects and institutional investors are also actively positioning, providing solid support for SOL's rise💎.
🏦 Institutional interest continues to heat up
Institutional investors' interest in Solana continues to grow, bringing structural confidence:
ETF filing activity: VanEck has submitted a Solana ETF-related application in the US📄
EU infrastructure review: assessing Solana and other blockchain projects, opening windows for potential applications of digital currency infrastructure🌍
These actions not only enhance market confidence but also create conditions for capital injection beyond retail investors, making Solana's rise more reliable.
🔍 Key indicators for support/resistance
Support level: $190 confirmed, a solid cornerstone after the breakout🛡️
Resistance level: $210 is the short-term target, and may continue to hit $220 or even higher after the breakout🚀
Trading volume: consistently above the $200 area, providing momentum for the rise
Technical indicators: RSI, MACD, and moving averages all support buyer strength
⚡ Market momentum analysis
Solana's recent rise has been driven mainly by the following factors:
Price breakout above $190: confirms support level, market structure is bullish
Increased trading volume: active trading, trend confirmed
Strong short-term momentum: moving averages, RSI, and MACD all indicate bullish
On-chain ecosystem robust: TVL, stablecoin liquidity, DEX trading volume, and token buyback volume are all continuously increasing
Institutional positioning intensifies: ETF filings and EU reviews bring additional confidence
Overall, Solana's upward momentum is supported not only by technical indicators but also relies on on-chain data and institutional capital for joint promotion🔝.
💡 Risk management advice
Despite the bullish market, investors still need to remain rational:
Positioning strategy: build near $190 to ensure the support level is solid
Stop-loss setting: set a trailing stop-loss below $190 to protect profits
Indicators to watch: changes in RSI and trading volume can help determine if there are signs of weakness
Risk diversification: can reduce positions or lower leverage near the $210-$220 resistance level⚠️
📌 Summary
Support level reversal: $190 solid support, breakout confirms bullish structure
Technical momentum strong: moving averages, RSI, MACD indicate upward
On-chain and institutional support: TVL, stablecoins, buyback volume, and ETF filing activities enhance confidence
Target price level: $210 is a reasonable target in the short term, and may continue to push higher after the breakout
In summary: Solana has successfully stabilized at $190💪, supported by technicals, on-chain indicators, and institutional capital for upward momentum📈, targeting $210! In the short term, pay attention to support levels and trading volume, and in the long term, follow the trend for positioning🚀.
