Solana (SOL) is once again dominating the crypto market. Its prices have risen sharply in the last few days, leading to discussions among investors and analysts whether Solana will be able to cross the $180 level in the coming times.
Table of Contents
- Significant Increase in LINK Price
- Technical Signals and Analysis
- Influence of Institutional Partnerships
- Relation to Broader Market Conditions
- Advice for Investors
- Conclusion
Current price situation
Solana is currently trading around $159, and has seen a gain of over 14% in the past week. This rally has come due to the strength of Bitcoin as well as improvement in Solana’s on-chain data.
What are the key technical indicators saying?
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MACD (Moving Average Convergence Divergence):
The MACD line has crossed the zero level, which is a strong bullish signal.
RSI (Relative Strength Index):
The RSI has moved above 52, making it clear that the number of buyers is increasing.
What next?
If Bitcoin price stays above $99,000, SOL is likely to reach $180.
But if Bitcoin drops to $91,000, Solana price could drop to $125 to $135.
On-chain and market updates
TVL (Total Value Locked):
The total value locked in the Solana network now exceeds $8.54 billion, reflecting the ever-increasing trust in its DeFi projects.
Funding news:
Nous Research recently raised $50 million in funding led by Paradigm, further increasing the credibility and attractiveness of the Solana ecosystem.
Conclusion
If Solana maintains the $150 support level and the positive trend in the market continues, it could cross $180 in the coming weeks. And if the market momentum continues, it could even cross $200 by the end of 2025.
Investor Advice:
This article is for informational purposes only. It is important to seek the advice of a financial advisor before investing in crypto.
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