Solana Breaks Above $165 as Corporate Treasury Race and Mobile Innovation Signal Bullish Momentum
Solana (SOL) is getting stronger again, trading above $165 and up 2.5% in the last 24 hours. The cryptocurrency seems to be gaining traction
Quick overview
- Solana (SOL) is currently trading above $165, showing a 2.5% increase in the last 24 hours, with potential for a breakout.
- Institutional interest in Solana is rising, with several companies significantly increasing their holdings, indicating confidence in its staking rewards.
- The launch of the Solana Mobile Seeker smartphone, which allows users to stake SOL tokens easily, has garnered over 150,000 pre-orders globally.
- Technical analysis suggests that if SOL breaks through resistance levels at $172 to $175, it could target $200-$250 by fall.
Solana SOL/USD is getting stronger again, trading above $165 and up 2.5% in the last 24 hours. The cryptocurrency seems to be gaining traction on several fronts, such as more companies using it for their treasuries and the successful launch of Solana Mobile’s Seeker smartphone. This puts it in a good position for a possible breakout toward higher resistance levels.
Solana’s Corporate Treasury Adoption Accelerates Institutional Interest
The tendency of companies adopting corporate treasuries is probably the most important basic change that has affected SOL’s recent performance. This week, three public businesses have significantly increased their Solana holdings. This shows that more institutions are confident in the network’s staking rewards potential.
Bit Mining made its first purchase of Solana, buying 27,191 tokens for $4.5 million. At the same time, it launched a validator to collect staking yields. Upexi’s position grew even more astonishing, going from 735,692 tokens in June to over 2 million SOL, which earned the company almost $65,000 a day through 8% staking rewards. After buying 110,466 SOL, DeFi Development Corp also increased its holdings to 1.2 million tokens.
The top four companies who own Solana now own approximately 3.5 million tokens worth $591.1 million. This is 0.65% of the total supply. This concentration shows that institutional players see Solana as a good way to diversify their treasuries, especially since it can generate rewards.
Solana Seeker Mobile Integration Opens New Use Cases
The successful launch of Solana Mobile’s Seeker smartphone is another reason to be optimistic about SOL’s future. The gadget has more than 150,000 pre-orders from 50 countries. It is the first mainstream crypto-native smartphone to have embedded validator infrastructure.
With SOL Strategies as the only validator operator, users can stake SOL tokens directly from their phones with only one tap. This could make it easier for more people to use Solana’s staking environment. The Seeker costs between $450 and $500 and is aimed at people that use Solana a lot. It has no fees on staking rewards, which means that mobile users may get the most out of their money.
SOL/USD Technical Analysis: Triangle Formation Points to Imminent Breakout
SOL is showing traditional consolidation patterns after bouncing back from the $162 support zone, which is what you would expect from a technical point of view. The price has effectively regained the $165 level and is now above the 100-hour simple moving average, which is a sign of short-term positive optimism.
The hourly chart is showing a contracting triangle formation with resistance at $168. This means that a big price movement is about to happen. The 76.4% Fibonacci retracement level from the recent swing from $172 to $162 is acting as immediate resistance near the $170 mark.
$170, $172, and the important $175 zone are all important levels of resistance to keep an eye on. If the price closes over $175, it might start a long-term rise toward $182, with the next big goal at $192. But if it doesn’t break over $170, it could go back to the first support level at $164, where there is stronger support at $162.
The technical indications show a combination of good and bad signs, although they are mostly good. The hourly MACD is slowing down in the positive zone, which could mean that momentum is fading. The RSI, on the other hand, is still above the neutral 50 line, which means that the market is still strong.
Solana Price Prediction: $200-$250 Target by Fall
SOL looks like it will keep going higher based on current technical patterns and fundamental changes. The resistance zone at $172 to $175 is still the key goal. If the price breaks through this level, it could start to rise toward $192.
But the bigger picture looks even better. Analysts are aiming for $200–$250 by fall, with the possibility of SEC approval of spot SOL ETFs and the recent enactment of the GENIUS crypto act, which made things clearer for regulators.
The RSI reading of 57 shows that momentum has slowed down from the previous month’s overbought circumstances over 70. This could mean that SOL is ready to go up again. The token has dropped 5.21% in the last week, but this consolidation seems good inside the larger trading range of $121 to $204 that has been in place since July’s robust success.
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