Recent market analysis indicates that Solana (SOL) is drawing investor attention alongside Bitcoin and Ethereum. According to data from the analysis platform Santiment, investor confidence in SOL has reached an 11-week high.
Current Trend of Solana
Santiment reports that the price of Solana has surpassed $211.7 and is approaching the resistance level established in February.
> "Solana finally had a little breakthrough of its own. The SOL price nearly broke the February price resistance to climb above $211.70. Retail investors are making 5.8 bullish comments for every 1 bearish comment, and investor confidence is reaching an 11-week high." CITE_NA
Analysts' Predictions
Popular analyst Lark Davis also shared his predictions for SOL. According to Davis, Solana's recent move signals optimism among investors and a potential breakout to $255.
"The setup of the ascending triangle formation on the Solana chart clearly suggests the next target is $255. Daily volume exceeding $9 billion also highlights strong market participation and supports the bullish outlook," Davis stated.
Support from Major Investors
Recent news points to plans by major companies like Galaxy Digital, Jump Crypto, and Multicoin Capital making a joint investment of $1 billion in Solana. Additionally, Pantera Capital is also making a move with investments amounting to $1.25 billion, further supporting SOL's recent rise.
Under current conditions, Solana shows impressive growth, attracting interest from both retail and institutional investors. Analysts are confident that if current trends continue, SOL may reach new heights.
