The cryptocurrency Solana continues to show significant growth, outpacing most of its competitors in the market.
Current Achievements of Solana
As of the time of this report, Solana, ranked sixth by market capitalization, has increased its value by 3.53% over the past 24 hours to $214 and by 16.37% weekly, representing the largest increase among the top 10 cryptocurrencies. Solana was also the leader in 24-hour growth among major cryptocurrencies.
Reversal and Resistance
After its price dropped to $155 at the start of August, Solana saw a significant rebound, triggered by a bullish cross that appeared on its daily chart at the beginning of the month. However, by mid-August, bulls faced resistance at the $210 level, leading to a drop in price to $173 before the upward movement resumed.
Future Prospects and Plans
With the current bullish reversal in Solana's price, the target of $300 seems feasible again, although resistance stands at $244 and $273 ahead. In positive news for Solana, Bloomberg recently reported that Galaxy Digital, Multicoin Capital, and Jump Crypto are discussing raising about $1 billion from potential investors to buy Solana.
Thus, Solana continues to attract attention following impressive growth and a future that may include significant investments.
