Solana (SOL) — new high? Price analysis and forecasts amid institutional inflow
While Bitcoin is preparing for its next big step, Solana once again decided to remind us of its presence. Over the week, it has grown by 21.6%, breaking the mark of $245. It seems that the rumors of its death were greatly exaggerated.
The rise of DeFi and whales that can't sit still
The main reason for the rally is, of course, the sharp increase in network activity. The total value locked (TVL) in DeFi protocols on Solana exceeded $12 billion, setting a new record. This indicates that people are actively using decentralized lending and trading, rather than just holding coins.
At the same time, 'whales' — large investors — entered the game. The Multicoin fund transferred $680 million into SOL, which only fueled interest in the asset. Galaxy Digital even bought SOL for $1.16 billion, most of which was transferred to Coinbase. As we know, if large investors are buying something, it means they know something. Or at least, that’s what they think.
Moreover, macroeconomic conditions are also playing in favor. Traders expect that the Federal Reserve will lower the key interest rate by 25 basis points, which should further boost risky assets, including cryptocurrency.
Technical analysis: the chart says 'up', but it's not certain
From a technical standpoint, Solana looks very confident. It is trading at $247.82, and its market capitalization exceeds $134 billion. The chart shows an upward channel in which the price moves, consistently forming higher lows.
EMA lines: the 50-day EMA ($222) and the 200-day EMA ($192) are confidently moving upward, confirming the strength of the trend.
Indicators: The Relative Strength Index (RSI) is at 77, indicating 'overheating', but as history shows, this is not an obstacle in strong rallies.
Patterns: The latest candlestick patterns resemble the formation of 'three white soldiers', which is a strong signal for continued growth.
If Solana can confidently break the resistance at $250, the next targets will be $260 and $270. If a 'healthy' pullback occurs, the support levels will be $244 or $235, with a structural 'floor' at $222.
For traders, there is a clear plan: buy above $244 with a stop at $227. For long-term holders, this rally may not be short-lived and could lead to $300 if institutional flows continue.
