BitcoinSistemi 2025-05-20 12:48:08

Solana (SOL) Continues to Rise on Rising DeFi Momentum! Will Critical Levels Be Exceeded? Here Are the Details

Solana (SOL) is up more than 6% in the past 24 hours as bullish technical signals and rising decentralized finance (DeFi) activity bolster investor confidence. Solana (SOL) Jumps 6% Amid Rising DeFi Momentum Towards $180 The price of SOL rose from its daily low of $159.69 to its daily high of $173.03, marking an intraday range of 8.35%, according to Binance TR data. Market analysts have marked the $166.82 level as a key short-term pivot, noting that if the buying momentum continues, holding above the $177 resistance could pave the way for $180 and beyond. “We are seeing institutional-style volume clusters around the structure-solid $167-$170 region, which generally indicates accumulation rather than retail-led speculation,” said a market strategist at DeltaBit Analytics. Technical analysis points to growing institutional interest, with trading volumes rising well above the 24-hour average in the last four hours. Buyers stepped in, particularly at $160.34, bolstering support levels amid early weakness. However, there was a brief 1.35% correction in the last hour of trading, with SOL falling from $172.19 to $169.87. Although the decreasing volatility and volume in the last 30 minutes suggest that selling pressure may be easing, the $170 psychological level temporarily acted as support before giving way. “The resilience shown by the market in the face of macro headwinds and increased DeFi activity on Solana is remarkable. If SOL convincingly reclaims $170, the bullish structure remains intact,” said a technical analyst at TokenMetrics. Solana’s rally comes amid broader strength in the crypto market, where Bitcoin has held above $100,000 and Ethereum continues to see renewed staking inflows. In parallel, activity in Solana’s DeFi ecosystem has also increased, lending further support to the token’s bullish narrative. With investors keeping a close eye on the $177-180 zone, any break above could trigger further upside momentum, especially if institutional flows continue to rise. *This is not investment advice. Continue Reading: Solana (SOL) Continues to Rise on Rising DeFi Momentum! Will Critical Levels Be Exceeded? Here Are the Details