Solana's current price is around $168.48, with a market cap of $88.17 billion. The token has seen a 7.83% increase, driven by institutional adoption and strong on-chain fundamentals.
*Key Support and Resistance Levels:*
- _Support:_ $155, $150
- _Resistance:_ $165, $170, $185-$190
*Market Sentiment:*
- Institutional investors are accumulating Solana, with ETF inflows reaching $269 million
- On-chain metrics show strong user engagement, with 17.2 million active addresses and 432 million transactions in a week
- Analysts predict a potential rebound to $200, with some forecasting a surge to $500
*Technical Analysis:*
- Solana's chart shows a TD Sequential buy signal, indicating a potential reversal
- The token is testing the lower boundary of a descending channel, which could lead to a short-term rally
- Momentum indicators show promising signals, with MACD narrowing and RSI building positive divergence
Overall, Solana's strong fundamentals and institutional adoption suggest a potential recovery, but investors should monitor key support levels and market sentiment. ¹ ² ³
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