Solana Gains Institutional Support, Eyes Key Resistance Levels
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Surging Network Activity Points to Institutional Confidence
Solana recently saw an unprecedented level of network activity, with $224 billion worth of assets transferred on its network in a single day—nearly triple its market cap of $76 billion. This surge demonstrates rising confidence in Solana’s scalability and efficiency, particularly among institutional players who see value in its performance and potential for future growth.
Price Outlook for Solana: Key Levels in Focus
Currently, Solana is trading around $161.24 after an 11% dip over the past week. The $165 resistance level remains crucial for SOL, as converting this level into support could pave the way for a target of $185 or beyond. Should institutional buying momentum continue, Solana could see further upward movement, potentially reaching around $175.
However, if SOL fails to maintain support above $165, it may revisit the $155 mark, which could raise the risk of a deeper correction toward $140. Institutional support, however, offers a promising buffer, making it an exciting time for investors watching Solana’s trajectory.
