Solana (SOL) has been resilient to the latest drop that the market experienced, as it managed to float above $175 and recaptured the $200 level temporarily yesterday.
In the past 24 hours, the token has jumped by 1.5%, even though most of the market is in deep red.
Trading volumes remain high, currently accounting for 12% of SOL’s circulating supply, highlighting that buying pressure persists at the current level of $193.
The only spot exchange-traded fund (ETF) in the United States that offers exposure to Solana can be considered a good barometer of market sentiment toward this token.
Despite Friday’s crash, investors have not withdrawn that much from this vehicle, as its assets under management continue to be near $400 million, the level at which they stood prior to this liquidation event.
President Trump’s hostilities with China on the trade front may have temporarily paused Solana’s climb to $300, but macroeconomic conditions continue to be favorable for altcoins as a whole.
Institutional adoption is rising, as reflected by the launch of multiple Solana treasuries this year. This favors a bullish Solana price prediction.
Data from CoinGecko shows that 9 companies have opted to turn their businesses into SOL holding companies.
In total, they have poured over $2 billion into these assets, reflecting their confidence in this blockchain project’s ability to keep growing its use cases and ecosystem over time.
SOL Bounced Back From a Key Trend Line During Friday’s Crash
The daily chart shows that Friday’s strong decline found support at a long-dated trend line, emphasizing the relevance of this trajectory for the market.
Trading volumes exceeded the 14-day moving average (EMA) at that point, and throughout the past 5 days or so.
SOL is already surpassing the $200 mark once again today, and this could indicate that the selling pressure has eased after an initial temporary drop. Moreover, the price has climbed back above the 200-day exponential moving average (EMA), which favors a bullish long-term outlook.
The Relative Strength Index (RSI) would have to climb above the 14-day moving average to confirm that positive momentum is once again picking up steam. If that happens, we could soon witness a move toward $250 or higher for SOL.
The Solana ecosystem as a whole has been experiencing an interesting expansion in the past 2 years, primarily caused by the growing popularity of meme coins.
A promising crypto presale called Snorter ($SNORTER) makes it easier for traders to snipe this ecosystem’s hidden gems, following an automated strategy that can be easily executed through Telegram alerts.
Snorter ($SNORT) Raises Nearly $5M to Launch Solana’s Next-Gen Trading Bot
Snorter ($SNORT) brings speed, safety, and automation to crypto trading — all within the popular and highly user-friendly Telegram app. Designed for meme coin hunters and DeFi traders, the Snorter Bot helps users spot new launches, snipe tokens at lightning speed, and execute trades without leaving the chat.
At its core, Snorter uses a custom Solana routing engine for ultra-fast swaps and a security scanner that filters out honeypots, blacklist functions, and hidden mints. The result? Safer trading with low odds of getting wrecked by rug pulls and more control over entry and exit prices.
Beyond basic swaps, users can schedule buys, set profit targets, or even mirror successful wallets — all with simple chat commands. The team plans to expand Snorter to Ethereum and BNB Chain soon, making it a truly multi-chain trading assistant.
To buy $SNORT before everyone else hears about it, simply visit the Snorter official website and connect a compatible crypto wallet. You can either swap USDT or SOL for this token or use a bank card to invest.
