Solana (SOL), currently ranked sixth globally by market cap, has witnessed a significant price recovery in recent days. The coin surged past its key resistance level of $150, indicating a shift in market sentiment and potential for further growth. CoinMarketCap data shows SOL is trading at $150.03, representing a 0.98% increase over the last 24 hours. Though trading volume has yet to rebound significantly, it’s down by 30.71% at $3.88 billion, suggesting caution among investors who remain cautious but optimistic about future price trajectories.
SOL experienced substantial growth in the past seven days, rising from $133.66 to its current level of $150. This upward move was fuelled by a 14.09% surge, driven by positive market momentum and investor confidence.
Despite SOL’s current valuation, notable trader DonAlt predicts Solana could reach $200 as the asset utilizes US trade tariffs to attract investors. The prediction highlights the significant attention and potential for growth within the blockchain ecosystem.
Key factors fueling this recovery include increasing regulatory momentum and anticipated approval for institution-focused products from the Securities and Exchange Commission (SEC). The robust number of SEC filings for ETFs underscores Solana’s growing appeal in the market. Additionally, renowned trader Peter Brandt believes SOL has a strong long-term potential to outperform Ethereum, reflecting the ongoing excitement within the crypto community.
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