Solana Price Surges: Can This Bullish Setup Push SOL Beyond $300?
- Solana regains bullish momentum after a 30% dip and a classic fakeout pattern.
- Market analysts forecast a potential surge past its all-time high to $329.94 by end of 2025.
- Robinhoods blockchain ambitions may enhance Solanas institutional relevance in Europe.
Solana is currently trading at $149.76, rising 2.14% over the previous 24 hours. The trading volume rose to $4.55 billion, representing a growth of 53.61%, with investor appetite making a comeback. The asset has appreciated by 0.70% over the last week, which is a steady upward trend.
Technical analyst AndrewGriUK recently called out a textbook fakeout on the price of SOL. In the last 25 days, Solana fell by 30%, breaking beneath a key horizontal support area. This probably initiated stop-losses and dissuaded retail bulls before flipping back hard. From the chart, the rally was marked by heavy volume and a clean breakout over levels of resistance, which indicated a new trend on the upswing. A major point of note was SOL breaking over a moving average, classically a sign of a bull run.
With fresh momentum, traders are now focusing on the $120 and $250 levels as levels to monitor. The former is a confirmation of support, while the latter is in line with longer-term resistance levels. The technical configuration is indicative of further upward potential, though wider market sentiment is an important variable.
Analysts Predict Solanas Breakout to New Highs
In the future, Solanas 2025 price forecast is positive. Solana is seen breaking the $329.94 barrier by the end of 2025, with a possible touching of the $294.33 mark initially. Following a dip during January 2025, the cryptocurrency is anticipated to breach its current all-time record of $294.33, courtesy of increasing investor optimism. As with any cryptocurrency, market performance and other factors will dictate whether or not the price levels are touched.
This price action is also linked to wider industry trends, especially the expansion of blockchain technology within the financial services sector. Solana is well-positioned as a leader within this new market due to its performance with efficient and affordable transactions.
SOLs Rising Role in Robinhoods Plans
Concurrent with this, Robinhood is also examining blockchain infrastructure to facilitate European retail investors ability to trade tokenized US equities. The company is contemplating both Arbitrum and Solana for the purpose, sources at Bloomberg report. Though talks are at a preliminary stage, naming Solana as a contender reflects its growing reputation among blockchain networks.
Recent acquisitions by Robinhood, such as a proposed deal with Bitstamp and a new brokerage license in Lithuania, indicate that the company is serious about taking its services outside of crypto. The proposed infrastructure would tokenize traditional equities, with its use bringing faster settlements and a lower price tag. If Solana is selected for the purpose, it might further establish itself at the center of the new financial ecosystem.
Read more: https://www.tronweekly.com/solana-price-surges-can-this-bullish-setup-push/
Text source: TronWeekly
