The Solana cryptocurrency SOL $124.84 Binance-Peg SOL 0.30% Market capitalization $0.14 billion VOL. 24 hours $0.23 billion is showing signs of a steady recovery after a recent drop, and the level of social enthusiasm around the project has reached record levels. In recent days, the price of SOL has risen by 14% from the $ 121 support level and is now in the range of $ 136−139. This movement is accompanied by increased interest from institutions, positive sentiment in the community, and active participation of influencers.
Santiment analysts recorded an unprecedented 18-to-1 ratio of positive to negative mentions of Solana on social media. The reasons for this were not only the technical stability of the platform but also the news of integration by major players such as GameStop and BlackRock. The latter, in particular, is preparing to launch tokenized custodial funds based on Solana, which increases confidence in its ecosystem.
After falling by more than 50% from its January peak of $ 111, the current gains look like a return to the optimistic zone. However, some experts call for restraint. For example, Jelle analyst notes that despite the steady return to $ 136, there is still a long way to go before a major breakthrough. Currently, the key technical challenge for SOL is to consolidate above $ 145 and overcome the next barrier at $ 180.
According to an analyst under the nickname Ether Wizz, a successful breakout of this mark will open the way for new growth up to $ 270. However, the market needs confirmation of this movement, in particular, because of the sustainability of buying interest after a period when a wave of meme coin launches (including TRUMP and MELANIA) caused fatigue and discouragement in the community.
At the time of writing, Solana is trading at $ 132.