🔥 HOT UPDATE: SOLANA ($SOL ) STRONG BREAKOUT THIS MORNING!
This morning, on May 11, 2025, the price of Solana (SOL) surged to $176.55, marking a 2.89% increase in the last 24 hours.
🚀 Factors driving SOL's rally:
• Significant institutional investment: DeFi Development Corp. has added $11.2 million to its treasury by purchasing 400,091 SOL, significantly increasing the total amount of SOL held by the company.
• Positive market sentiment: Futures traders $SOL are ramping up bullish bets ahead of the FOMC meeting, with the long/short ratio reaching a monthly high, indicating a strong bullish trend.
• Optimistic technical analysis: $SOL has surpassed a crucial resistance level at $175 and is now aiming for the next target of $189, according to Fibonacci analysis.
📈 Short-term forecast:
If the upward momentum continues, SOL could retest the resistance level at $189 in the coming days.
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