Solana Volume Soars 60% as Analysts Eye $184 Breakout
Solana (SOL) has regained bullish momentum after dipping below $150 earlier this month. Trading volume jumped 60% to $5.52 billion in 24 hours, lifting SOL’s price 6.4% to $168.2 and adding nearly $6 billion to its market cap. Technical analysis reveals an ascending triangle with resistance at $167; a confirmed break could drive SOL toward $184 if Bitcoin remains stable. On-chain data from Glassnode highlights $147.49 as a key support zone, reflecting strong buying interest. Bollinger Bands and RSI indicators show improving momentum, with the upper band near $179 and room to target $200 in the coming weeks. SOL has outperformed Ethereum (ETH) and BNB Chain in DEX volumes and staking. Meanwhile, PEPENODE—a gamified crypto-mining platform on Ethereum—secured $2.1 million in presale funding. Its deflationary token model burns 70% of tokens used in upgrades, aiming to enhance scarcity, and offers early backers up to 614% staking returns. Traders should watch the $167 resistance and $147 support levels for signals of continued upside.
Bullish
Solana’s 60% surge in trading volume and the formation of an ascending triangle pattern signal strong bullish momentum. Historically, similar volume spikes—such as in August—preceded significant price breakouts for SOL. The clear support at $147.49 and a decisive close above the $167 resistance would likely trigger a rally to $184 and potentially $200. Positive on-chain metrics and SOL’s outperformance in DEX volumes and staking reinforce trader confidence. In the short term, expect heightened buying around the key resistance and support levels. In the long term, if SOL continues to validate its technical setup and on-chain strength, it could sustain an uptrend, attracting further capital and bolstering market sentiment.