Solana Surges Past $167, Strategic Acquisitions and Seeker Phone Rollout Signal Ecosystem Expansion
Solana (SOL) is getting stronger again, trading above $167 and gaining about 3% in the last 24 hours. The growing trend comes as the network
Quick overview
- Solana's price is currently above $167, showing a 3% increase in the last 24 hours amid significant ecosystem changes.
- Phantom has acquired Solsniper, enhancing its trading infrastructure and expanding beyond its wallet services.
- The launch of the Seeker mobile device, with over 150,000 pre-orders, aims to broaden Solana's global reach and user base.
- Technical analysis indicates bullish momentum for SOL, with key support levels and potential price targets suggesting further upward movement.
Solana SOL/USD is getting stronger again, trading above $167 and gaining about 3% in the last 24 hours. The growing trend comes as the blockchain ecosystem goes through big changes, such as important corporate acquisitions and the start of its long-awaited mobile device project.
Phantom’s Strategic Acquisition Strengthens Trading Infrastructure
Phantom, the best wallet provider for Solana, said it had bought Solsniper, an AI-powered memecoin trading platform. This smart move shows that Phantom is moving beyond just being a wallet service and into a full trading environment.
Phantom said, “We’ve acquired Solsniper, one of the fastest and most advanced trading platforms on Solana.” They stressed how accurate and fast the platform is. The acquisition makes it easier to keep an eye on tokens, wallets, and trades.
The deal comes after Phantom’s spectacular Series C fundraising round, which raised $150 million and was headed by Sequoia and Paradigm. This put the company’s valuation at $3 billion. As part of its growth plan, Phantom will keep Solsniper as a separate service while adding new capabilities over the next few months.
Seeker Mobile Device Launch Expands Global Reach
The start of Seeker mobile device shipments to more than 50 countries gave Solana’s ecosystem another push. The mobile project got more than 150,000 pre-orders and includes better technology, a mobile-native crypto wallet, and a decentralized app store.
This hardware upgrade is a big step toward making Solana more widely used, and it might deliver its features straight to people all across the world. The device’s ability to use Web3 could help the ecosystem grow and get more users.
SOL/USD Technical Analysis Reveals Bullish Momentum Building
From a technical point of view, the way Solana’s price is moving shows that a trend may be about to change. The cryptocurrency has found firm support at $162.75, which is its 200-day Exponential Moving Average (EMA). This level is also the 61.8% Fibonacci retracement level, which is $163.40.
Key technical indications show that people are becoming more bullish:
- Funding Rates: The data on derivatives reveals that funding rates have gone from negative to positive, at 0.0006%. This means that more traders are betting on prices going up than down.
- Golden Cross Formation: The 50-day and 200-day EMAs are getting closer to a possible bullish crossover.
- Multi-Month Breakout: SOL has broken through a downward trendline, creating a clear ascending support structure.
The Relative Strength Index (RSI) is currently at 47 and moving up toward the neutral 50 level. This means that negative momentum is diminishing and there is a chance for more recovery.
Institutional Adoption Provides Fundamental Support
Artelo Biosciences made news by being the first publicly traded biotech business to use Solana as a treasury reserve asset. This is another reason to be optimistic about the technology. The pharmaceutical company raised $9.475 million through a private placement to back this strategic move, showing that institutions are becoming more confident in Solana’s long-term potential.
Solana Price Prediction: Multiple Targets in Focus
Based on the present market structure, technical analysis points to a number of price targets:
- Near-term resistance: $184.13 represents the immediate daily resistance level. A break above this zone could trigger additional buying pressure.
- Liquidation catalyst: Heavy short positions clustered around $166.8 could create a liquidation squeeze if SOL maintains current momentum, potentially accelerating upward movement.
- Long-term projections: Analysts point to a macro trendline dating back to 2020 that has consistently supported Solana through multiple market cycles. If this structural base holds, price targets of $250-$300 appear achievable, with some projections extending to $400.
Traders should, however, keep an eye on the important support zone between $155 and $160. If the price goes below this level, the bullish thesis could be wrong, and the goal could be the 50% Fibonacci retracement at $150.39.
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