$SOL | Renewed Rise Supported by Momentum and Institutions
Solana is one of the prominent projects that has demonstrated its resilience and strength in the market, with notable growth in user activity and developer interest, especially with the flourishing of DeFi and NFT projects on its network.
Technical Analysis:
• Current Price: $172
• Strong Support: $160
• Nearby Resistance: $185
• RSI and MACD indicators show positive momentum on the daily timeframe.
• General Trend: Bullish with the potential for a short-term upward channel.
Fundamental Support Factors:
• Increase in daily transactions on the network.
• Strong partnerships and institutional funding supporting infrastructure development.
• Promising emerging projects built on Solana, enhancing demand for the currency.
Short to Medium-Term Outlook:
If the price maintains the $160 level as support, targeting $185 then $200 seems likely in the coming weeks
