Solana’s price continues to build steady momentum, assisted by renewed catalysts boosting optimism. With institutional confidence rising and technical patterns aligning, SOL is now aiming for the $400 level.Current trading momentum in place indicates buyers are well in control, priming Solana for another significant breakthrough ahead.
Solana is currently trading above $220 after recording a 6% week-on-week growth in price. DeFi Development Corp, a NASDAQ-listed Solana treasury vehicle, recently acquired 104,379 SOL worth $22 million from BitGo and Kraken. In the acquisition, the company’s total holdings in Solana increased to 192,462 SOL, equivalent in value to over $42 million.
Notable action was witnessed in the derivatives sector. Open Interest on CoinGlass surged 8% in a session to an all-time high $14.68 billion. Day session volume remained flat at $25.19 billion. Short liquidations were in excess of $10 million against $6.97 million in long liquidations, a sign of capitulation on the bears’ part.
Solana technical chart shows higher-low structure
Two-hour chart confirms a bullish trend structure for Solana. Price is in an ascending channel, repeatedly making higher lows. SOL recently regained its 50-EMA at $212, a turnaround in short-term momentum in favor of buyers. A string of bullish candles appeared in a semblance of a “three white soldiers” chart pattern, but profit-taking constrained those gains to $223.
Momentum indicators also favor buyers. RSI is stable at 62, in neutral but not overbought territory. No bearish divergence has emerged. Aggressive dip-buying supports the price near the midline of the channel. Technically, correlation suggests buyers are continuously accumulating, enhancing the probability of sustained continuation towards higher resistance.
Nasdaq listing with $94M holdings fuels confidence
Release of Nasdaq SOL Strategies, aided by $94 million in holdings, furthered institutional alignment. Listed on the ticker STKE, the listing brings added prominence for Solana in the world of traditional financial markets. It links blockchain use cases with U.S. exchanges as well, augmenting both credibility and liquidity simultaneously.
Nasdaq listing highlights stepped-up corporate compatibility with the infrastructure of Solana. It secures the standing of Solana among premier blockchain projects, and rightly so in the long term. It supports ongoing optimism in the broader price scenario for Solana.
Solana seems poised for further advances. Higher lows, institutional demand, and exposure to Nasdaq in concert are siding with the bulls decisively. A confirmed breakout above $261 resistance might bring out rallies towards $300 and beyond. If momentum persists, the route to Solana’s $400 mark appears both within reach and steadily credible.
