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Solana prices have regained momentum after rising 3.57% daily, driven by renewed interest from institutional investors and solid technical resilience. The asset continues to hold near its rising support, reflecting continued demand despite widespread market volatility. Meanwhile, Solana's recent acquisitions reinforce growing investor confidence in the project's long-term value proposition. Solana price action suggests a strong breakout structure is forming, with $300 price target  Solana's current market price is $233, with buyers regaining confidence after holding key support levels. The daily chart shows that Solana has been exhibiting an uptrend line since mid-year, laying a solid foundation for further gains. Resistance is currently near $238, a key area that, if broken, could open the way to a test of $251. If Solana price sustains above this level, the next technical target is near $300, in line with a potential 56% rebound forecast. It is worth noting that the Fibonacci extension lines highlight key retracement levels that may precede consolidation before the continuation trend. The $0.618 level near $238 remains key, while the $0.786 level near $252 could attract fresh buyer volume. Conversely, failure to hold above $227 could trigger a retest of lower support at $209, although the broader uptrend line continues to provide strong structural support. As CoinGape recently predicted, the continued formation of higher lows highlights an active accumulation phase, with Solana likely to achieve a breakout if buyers maintain pressure above short-term resistance. The forecast also states that a break above $251 resistance could open the way to an expected $360 target, which is in line with Solana's broader long-term price forecast, which anticipates continued growth from its current structure. Solana's $530 million acquisition bolsters institutional support.  Solana Inc. announced an increase in its stake in SOL valued at $530 million, reinforcing optimism about institutional demand. The Nasdaq-listed company's acquisition is one of Solana's largest corporate-level purchases to date. It also demonstrates the growing trust among large investors in the efficiency and scalability of the network. The involvement of such institutions tightened supply and supported Solana’s price by reducing selling pressure. The move is in line with a general trend among businesses to diversify into blockchain assets, especially those that offer speed and cost advantages. Meanwhile, Grayscale’s Solana Trust (GSOL) has also enabled staking functionality, a move that could further enhance institutional participation once it gets regulatory approval to upgrade to an ETP. To sum up, Solana’s price continues to show strength on the back of solid technicals and growing institutional positioning. Upside support remains a key level to watch as it determines the near-term market structure. A close above $251 could confirm continued price growth, heading towards $300 and above. Given that Solana has completed a $530 million acquisition and made new pledges through Grayscale, Solana's market prospects remain bullish. If you don't know how to screen strong coins, if you want to know more about the currency circle and first-hand cutting-edge information, please feel free to consult me. We have the most professional currency circle community, publishing market analysis and high-quality potential currency recommendations every day. If you also want to ride through the bull and bear market, watch others sink to the bottom in the bear market, double your income, and get rid of the shackles of the bull and bear market. Brothers, gather here quickly! Group content: 1. Seizing the opportunity to build a warehouse in the future can allow many people to cross class again in the bull market! 2. Copycat spot opportunities, real-time sharing of bands and long-term strategies! 3. Now that the market is active again, it definitely needs new star sectors and currencies to detonate a new bull market. If you catch one, you will make a lot of money, and if you catch a few, you will make a lot of money! Scan the QR code to join the community!  |
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