Solana (SOL) has surged to its highest price in two months, recently reaching $178.33. As of now, the token trades around $174.59, gaining 47% in the last month and 20% this past week.
This strong performance is driven by Solana’s growing role in the DeFi (Decentralized Finance) space. It recorded $3.32 billion in daily DEX volume, capturing nearly 29% of the global DEX market, according to DeFiLlama. More than $165 million in assets moved from other chains like Ethereum, Arbitrum, and Base into Solana in the past month.
From a technical view, Solana’s price has broken above its 200-day EMA and the 1.618 Fibonacci level at $167.39, showing a strong bullish trend. The chart also shows a “three white soldiers” pattern, suggesting continued buying momentum.
Key price levels:
- Immediate resistance: $178.33
- Next targets: $183.95 and $189.60
- Support zones: $167.39, $164.01, and $157.15
However, the MACD indicator is showing signs of slowing momentum, meaning traders should watch for a possible short-term pullback.
The overall crypto market is also showing strength. Easing US-China trade tensions and better risk sentiment have pushed the global crypto market cap to $3.33 trillion, helping coins like Solana attract more investors.
Conclusion:
If Solana breaks and holds above $178.33, a rally toward $200 is possible. But if it falls below $167, a short-term dip may occur. Investors should stay alert and manage risks carefully.
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