After last week’s correction, Solana has rebounded, sparking debate about whether SOL could hit $250 before Bitcoin returns to $120,000. This asset has been a major performer this month and has drawn investor attention amidst a fragile recovery in the cryptocurrency market. Analysts attribute its surge to DeFi applications’ growth and increased institutional investments. Some investors are turning to early-stage projects like MAGACOIN FINANCE as a way to diversify and potentially increase returns during market volatility. 2023’s crypto market has seen some of the biggest shifts as Bitcoin remains below $112,000 with cautious market sentiment. Bitcoin ETFs experienced outflows of over $320 million on Monday, signaling weakening institutional investments. Traders are now looking to Federal Reserve Chair Jerome Powell’s comments for signs of rate cuts that could impact near-term crypto market risk appetite. 50-day EMA resistance is still around $115,472 with support at $107,245. Solana, currently trading above $200 after a sharp selloff last week, faces technical hurdles to reach its previous high and has gained traction due to increased institutional interest. 8.9 billion in total volume for Solana’s DeFi and NFT activity. This rebound is supported by whale accumulation and institutional inflows from CME Group launching regulated options trading services for Solana. As a result, the number of SOL contracts traded on exchanges has been more than 540,000. Analysts believe that if trading volumes remain steady, Solana may retest its previous high levels in the coming weeks. 2023’s crypto market remains split between large-cap recoveries and early-stage opportunities. Whether Solana hits $250 before Bitcoin returns to $120K will depend on sustained demand and broader sentiment recovery.