The price of Solana (SOL) continues to attract investors' attention as it approaches key resistance levels. Positive trends in global liquidity create favorable conditions for assets like Solana.
Solana Price and its Current Levels
Recently, Solana price has shown strength, bouncing off support zones between $134 and $140. It is currently testing the upper boundary of a descending channel, which may indicate a potential bullish reversal. A break above the $150 resistance could lead to further gains, with targets ranging from $170 to $185 and possibly even $260 and $320. Increased trading volume supports the likelihood of a breakout, signaling growing interest from traders.
Global Liquidity and Its Impact
Recent increases in global liquidity suggest favorable conditions for risky assets like Solana price. The rise in the M2 money supply, which tracks the total money in circulation, often signals increased market liquidity and investor confidence. Historically, such expansions have contributed to price growth in crypto assets. This liquidity boost could help Solana price break through its current resistance levels.
Growing Institutional Interest
Institutional investments are becoming a major indicator of confidence in the future development of Solana price. Recently, NASDAQ-listed company Upexi Inc. purchased more than 45,000 Solana tokens through its treasury management, amounting to $100 million. This move, along with funding from top venture capital firms, marks the growing interest from major players in Solana. With increased institutional interest, rising price, and relative openness, Solana could hit its upper resistance.
Considering current trends and growing institutional interest, Solana is on track for potential significant price changes, positioning itself as a dynamic asset in the market.
