according to the materials of the site - CryptoFrontNews
Solana confidently bounced off the demand zone according to Fibonacci between the levels 0.618–0.786, confirming strong buyer interest. With the structure exiting the descending channel, the momentum is clearly shifting upwards. Three clear target levels have been identified: $206.58, $234.12, and $265.25. Market participants are now watching key resistance levels and increased institutional activity.
Cryptocurrency analyst TheMoonHailey noted that Solana bounced off the demand zone according to Fibonacci between the levels 0.618 and 0.786. This level served as a base where strong buyer interest halted further decline and changed the price direction.
Since then, the asset has exited the descending channel, confirming a bullish reversal. The structure also shows clear support levels and upward momentum. The breakout coincides with an increase in trading volume, confirming the strength of the movement.
Based on Fibonacci extensions and earlier resistance zones, analysts are now identifying three targets for the next growth phase. The first is $206.58, then $234.12 and $265.25. These levels remain relevant as long as the price stays above the resistance level of the channel.
According to Crypto Virtuos, the market remains favorable for Solana, and growth above $170 is expected. Solana traded around $164, supported by an increase in volume and institutional interest. Analysts are also watching for the next move towards the resistance zone of $180.
Upexi Inc. confirmed plans to acquire 1.6 million SOL tokens worth $273 million by mid-July. CEO Allan Marshall stated that this move reflects long-term support for the Solana ecosystem. This accumulation aligns with broader trends where companies view SOL as a strategic asset.
The daily trading volume recently exceeded $8 billion, and short positions totaling $23 million were liquidated. This activity indicates strong buying momentum. According to CoinMarketCap, Solana's dynamics continue to attract attention from both retail and institutional investors.
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