As of June 9, 2025, Solana (SOL) is trading at approximately $152.35, reflecting a 1.65% increase over the past 24 hours.
📈 Bullish Outlook
Several factors suggest a potential bullish trend for SOL:
• Institutional Interest: JPMorgan has raised its price target for SOL to $500 by 2026, citing growing institutional interest and the possibility of spot SOL ETFs being approved in 2025. 
• Technological Upgrades: The Firedancer upgrade aims to enhance Solana’s scalability, potentially processing up to 10,000 transactions per second, which could attract more developers and users to the platform. 
📉 Bearish Concerns
However, there are also bearish indicators:
• Whale Activity: The number of Solana whales has declined, suggesting reduced confidence among large holders. 
• Technical Patterns: An inverted cup and handle pattern on the daily chart indicates a potential breakdown if SOL closes below $220, which could lead to a price drop to $190.
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