Solana’s Rally and On-Chain Signals

📈 #SOL is on fire, testing $200 resistance after a 25% rally! The daily chart shows a bullish pennant breakout, backed by a 50/200 EMA golden cross, signaling strong momentum. On-chain, Solana’s DEX volume spiked 15% (Dune Analytics), driven by DeFi and NFT activity. Active addresses hit a 6-month high (CryptoQuant), reflecting growing adoption. However, RSI at 72 suggests a potential cool-off, with $180 as key support if $200 resists. Fundamentals remain solid: Solana’s high throughput and low fees make it a favorite for developers. Risk: A broader market correction or failure to break $200 could see a retest of $160. For traders, a confirmed close above $200 targets $250, with stop-losses below $180. Sentiment on X shows bullish buzz (LunarCrush), but watch for sudden volatility spikes. Solana’s ecosystem growth positions it as a top altcoin play #HODLStrategy #daytrading #breakouts