### Will SIMD-228 Propel Solana Beyond $125?
The U.S. Core CPI came in lower than expected at 3.1% year-over-year, compared to the projected 3.2%. Crypto markets responded positively to the news, with Solana briefly surpassing $130. Currently priced at $128, Solana is showing signs of a strong recovery. Could this momentum push SOL to $170? Let's analyze.
#### **Solana Price Analysis**
Solana recently dipped to $112 but has rebounded with a 6% price increase on March 11, indicating renewed bullish sentiment. Despite five consecutive red candles, a 1.94% intraday gain is fueling a potential V-shaped recovery from the S-1 pivot support at $104. If the trend continues, SOL could test the 20-day EMA at $145.
#### **Solana Surpasses Ethereum in 24-Hour Revenue**
In a surprising shift, Solana outperformed Ethereum in 24-hour network revenue, generating $442,000 compared to Ethereumโs $419,000, according to SolanaFloor. Maker followed closely with $391,000 in revenue.
#### **SIMD-228 Proposal Nears Approval**
Previously, we covered the SIMD-228 proposal aimed at reducing SOL inflation by approximately 80%. The proposal has passed with 67.97% "yes" votes (out of yes+no), surpassing the required 67% threshold. However, 56% of stakeholder votes are still uncast, with voting continuing until Epoch 755.
#### **Growing Interest in Solana Derivatives**
As Solana gains traction, futures open interest has climbed to $3.7 billion. A negative funding rate of 0.0065% indicates that sellers are willing to pay a premium to maintain short positions. The long-to-short ratio stands at 0.9767 over 24 hours, with $7.54 million in short liquidations and $5.58 million in long liquidations, totaling $13.12 million.
Will Solana continue its rally past $125, or will resistance hold strong?
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