This article discusses the current price trends of Solana, technical indicators, and potential future developments related to the launch of the digital euro.
Current Solana Price and Its Movement
At press time, Solana (SOL) is priced at $181, with a daily trading volume of $4.55 billion. The token has fallen by 1% in the last 24 hours and is down 8% over the past week.
Technical Analysis and Breakout
Analyst Ali Martinez noted that the market is in a good spot for buying Solana ahead of a possible breakout to $360. He highlighted support and resistance levels: support is at $176, while resistance is at $205. Fibonacci extension levels also indicate reference points at $250, $278, $320, and $362.
Elliottwave analysis suggests a corrective structure with support projected between $164 and $157 and an invalidation point at $195.
Implications of the Digital Euro Launch on Solana
The European Union is evaluating whether to launch the digital euro project on Ethereum or Solana instead of a private chain. Transitioning to a public blockchain could enhance accessibility, though concerns over privacy and security remain.
In conclusion, Solana continues to be a token of interest for analysts as it presents important technical levels and trends, along with potential new developments in the field of digital currencies.
