Solana may rise to $ 300 in the near future

The Solana cryptocurrency SOL $149.41 Binance-Peg SOL -1.21% Market capitalization $0.16 billion VOL. 24 hours $0.27 billion is once again in the spotlight amid growing social activity around projects in its ecosystem. According to the Santiment analytical platform, the token has been included in the list of the most mentioned on social media due to the real-world applications of the Solana blockchain and the rapid development of its ecosystem.

This surge of attention directly affects the market: trading volume is increasing, liquidity is growing, and Solana is increasingly mentioned alongside the leaders of the cryptocurrency market. Analysts note that the stable interest of developers and major players in the blockchain creates the basis for further growth in the value of the asset.

Solana is currently trading in the range of strong support at $ 115−125, which was previously a resistance zone. The key factor for further growth will be a breakout of the downward trend line stretching from the $ 300 peak. An extended wedge is forming on the cryptocurrency’s chart, a structure that indicates an increase in volatility.

If Solana manages to overcome this trend line, analysts predict a move to $ 160 and then to $ 200. Given strong buying and an increase in trading volumes, it is even possible to return to the historical high of $ 300. At the same time, a failure to consolidate at current levels could lead to a correction to $ 100.

An additional picture is formed by the VPVR volume indicator, which records the largest trades around $ 124 — this zone is both resistance and a point of potential support. A breakout of $ 124.58 will open the way to $ 125.39, while a pullback could bring Solana back to $ 123.59. It all depends on whether the market has enough strength to make a powerful breakout in the coming days.