In recent days, the cryptocurrency market has experienced a surge of volatility, and Solana is no exception. Despite facing challenges, the project shows growth in trading volumes and increasing TVL, while the price of SOL remains under pressure.
Record Solana Trading Volume in 24 Hours
In the last 24 hours, the trading volume of Solana (SOL) increased by 300%, reaching record amounts of 12 million SOL. This spike is the largest in 30 days and indicates renewed interest in the blockchain after a period of relative calm.
SOL Stability and DeFi Potential
Despite the impressive growth in volumes, the price of SOL has not reacted as expected, remaining around $100. This raises questions about the relationship between volume and price. On one hand, the strong increase in volumes may indicate accumulation, possibly by institutional investors. However, resistance around $130 to $140 remains a serious obstacle.
Future of SOL: Overcoming Resistances
The TVL of Solana has also reached a new high, indicating the robustness of its DeFi ecosystem. However, the correlation between volumes and price is absent. Some technical indicators suggest the possibility of growth. Analyst Ali (@ali_charts) noted, 'TD Sequential signals a buy on the weekly chart of SOL!', while the price must stay above $95 and break through $121 to initiate a rally towards $147.
Solana shows strong volumes and increasing interest in DeFi, but the price of SOL still faces significant levels of resistance. The future of this cryptocurrency depends on overcoming these technical thresholds.
