Ali Martinez predicts Solana’s growth to $ 115

Solana SOL $88.87 Binance-Peg SOL -0.80% Market capitalization $97.66 million VOL. 24 hours $0.24 billion has recovered from its March lows and has once again attracted the attention of traders due to the growing demand for instruments related to the SOL token. Over the past week, it has gained about 22%, breaking out of a multi-week sideways trend and rising to around $ 97 at the beginning of the week, although it later rolled back to around $ 90.

Analysts note an improvement in the technical picture. Expert Ali Martinez drew attention to the reversal of the SuperTrend indicator into the bullish zone for the first time since January. According to him, the next important psychological barrier for Solana is the $ 100 level, and the next major resistance zone may be around 115.

Strong demand in the range of $ 82.6−85.5 was an additional support factor. According to URPD, this is where a significant volume of transactions took place, which created a solid foundation for the token. Against this backdrop, analysts believe that if Solana holds the area around $ 93, the upward movement may accelerate.

Data on investment flows also sent an important signal. on March 17, net inflows into spot instruments based on Solana reached $ 17.81 million, the largest one-day result since the beginning of the month. The positive trend has been going on for five weeks in a row, and cumulative net inflows have approached $ 989.3 million.

Solana’s momentum is also attributed to new clarifications from US regulators. The SEC and CFTC have categorized most large tokens, including SOL, as digital commodities rather than securities. At the time of publication, Solana’s price was around $ 90, showing a 6.4% month-on-month increase.