Solana once again shows strong positions in the cryptocurrency market. Which levels should be considered and what contributes to its growth?
Weekly Chart Perspective
Solana has built a strong foundation between $220 and $230, acting as a critical support zone. If momentum holds, the next major resistance level is at $270, which could pave the way for new highs.
Daily Chart Analysis
A significant development on the daily timeframe is the breakout from an ascending triangle, a bullish pattern signaling a potential upside. As long as Solana maintains support above $140–$150, it has a strong chance of climbing toward $170 shortly.
Fundamental Catalysts Fueling Solana’s Growth
There are several factors contributing to Solana's growth. The potential inclusion in the U.S. strategic crypto reserve, strong institutional interest from entities like Franklin Templeton with their application for a Solana-based ETF, and partnerships such as Visa are all contributing to its increasing demand and utility in blockchain-based payment solutions.
Solana exhibits positive trends supported by both technical levels and fundamental factors. However, investment decisions should be made cautiously, considering current market conditions.
