Solana (SOL) has recently experienced significant bullish momentum, driven by key developments in the cryptocurrency landscape.
Approximately six days ago, President Donald Trump announced the creation of a U.S. "Crypto Strategic Reserve," which includes digital assets such as Solana (SOL), XRP, Cardano (ADA), Bitcoin (BTC), and Ethereum (ETH). This announcement led to a rapid increase in cryptocurrency values, with SOL's price surging from $140 to $168.
Following this surge, SOL continued its upward trajectory, reaching up to $178 before experiencing a pullback to around $161. Analysts are now monitoring whether Solana can sustain this momentum and potentially break the $200 mark.
As of the latest data, Solana is trading at approximately $137.86, reflecting a slight decrease of 0.88% from the previous close. The intraday high was $140.9, with a low of $135.53.
Market analysts suggest that if Solana maintains its current support levels and bullish momentum, it could target higher price points in the near future.
Investors are advised to monitor key support and resistance levels, as well as broader market trends, to assess Solana's potential for continued bullish momentum.
