Solana is once again in the spotlight as it trades near a crucial breakout level, buoyed by robust technical setups and a historic ICO event.
Technical Data and Predictions
Solana’s daily chart exhibits a **symmetrical triangle pattern**, typically a precursor to significant price movements. SOL is trading just below the upper resistance, with traders watching for a potential breakout that could drive the price into the **$375 to $400** range.
Pump.fun ICO as a Showcase of Solana’s Strength
The ICO **Pump.fun** became a standout moment for the network, raising **$600 million in just 12 minutes** according to Solana’s official channels. This fundraising took place while Wall Street was closed, highlighting blockchain's 24/7 advantages. More than **10,000 unique wallets** participated, showcasing the grassroots appeal of Solana, with 75.2% of the funds raised directly on the Solana blockchain.
Increase in Institutional Inflows
The fundamentals supporting Solana's price momentum continue to strengthen, with institutional inflows reaching **$78 million**, signaling rising confidence among larger players. On-chain metrics show active addresses nearing **16 million daily**, reflecting confidence from both retail and institutional investors.
As the apex of the symmetrical triangle approaches and with a supportive macro backdrop, traders believe a confirmed breakout above resistance could unlock a move toward the $375–$400 target zone.
