Solana (SOL) has experienced one of the strongest selling pressures among the top 10 cryptos in the past 7 days. CoinMarketCap data shows that SOL has lost nearly 7% of its value during this period and currently trades at $169.5.
Despite a thriving developer ecosystem and high transaction volumes due to a massive meme coin ecosystem, Solana is still lagging behind its peers.
Image Courtesy: TradingView
While Bitcoin and Ethereum are trading just below their previous all-time high, SOL is still far away from reaching new highs as it trades 42% below the ATH of $295. However, many analysts are highly confident about a bullish Solana price prediction, citing its scalability and growing real-world applications.
However, while Solana’s reversal is awaited, a viral presale star, Maxi Doge, is stealing the spotlight from the most established tokens, offering investors low-priced entry and massive ROI potential.
Solana Price Rebounds From $155 Support: Can It Sustain?
Solana has again experienced loss, dipping from $206 to the crucial support zone of $150-$155, down by 21%. This move came after profit-taking started in the cryptocurrency market. Although it has recovered to $170, the $190-210 resistance zone remains an insurmountable wall for now.
The market cap of SOL is $91.2 billion, while the market volume is $3.18 billion, a drop of over 15% due to the consolidation of price movements. However, experts feel that Solana’s price might recover above the resistance soon, as the broader market is preparing for the next leg up.
SOL surged to $170, driven by investor optimism and on-chain growth. The Solana price is testing the key resistance level of $170, with potential targets at $190 and $200 if bullish momentum holds.
Solana Treasury Race Heats Up As Accumulation Increases
Although Solana’s price faced downward pressure last week, corporate interest in the network is growing due to the staking benefit. Recently, three major institutions expanded their Solana holdings as the appeal of staking rewards is increasing.
Bit Mining made its first Solana purchase, buying 27,191 tokens for $4.9 million. Upexi more than doubled its holdings, jumping from 735,692 tokens in June to over 2 million. Meanwhile, DeFi Development Corp added another 110,466 tokens, pushing its total holdings to 1.2 million Solana.
These moves show that the interest in SOL is increasing, and smart money is positioning. Instead of relying solely on Bitcoin, firms are now diversifying into yield-generating assets like Solana.
Also, this growing trend of Solana accumulation signals a new phase in companies’ crypto strategy. They are not just buying for investment purposes, but they’re actively building staking portfolios, leveraging Solana’s speed and reward potential to optimize their treasury performance.
However, despite strong growth, SOL could do a max 2x to 4x return, which is not great in the competitive crypto markets. Meanwhile, the emerging lower-cap coins are promising 100x gains for investors as they carry potential similar to what Solana had in its early days.
