Solana Rebounds to $200 - Is a New Peak on the Horizon?

Solana (SOL), the fifth-largest cryptocurrency by market cap, has regained the $200 mark for the first time since June 6, sparking a surge in public interest. Analysts suggest that the long-term outlook is positive, supported by SOL’s high development activity and a strong momentum phase similar to Ethereum's earlier this year. For sustained momentum, Solana needs to turn $200 from resistance to support.

Experts forecast this shift could persist for one to two weeks and identified $220 as Solana’s first major target, suggesting that SOL could break its previous all-time high by August if current conditions persist. Meanwhile, institutional adoption is also gaining traction, with companies like DeFi Development Corp and Bit Mining expanding their Solana holdings and investments.