bullish

Solana

Momentum

<ul class="wp-block-list">
 <li>Solana’s surge faces market fluctuations and 8% price correction.</li>
 <li>SOL remains 15.7% below its all-time high, but bullish.</li>
</ul>
Solana (SOL) captivated the crypto community as it recently surged above $225, hitting its highest point in nearly three years. This rally, which briefly brought SOL’s market cap into the coveted $100 billion “club,” marks a significant milestone in the ongoing bullish phase called “Moonvember.” Despite an overall 8% weekly increase, recent market shifts tempered the celebration, with Solana experiencing a 7% decline in the past 24 hours as the global crypto market cap fell 3.7%.&nbsp;
Despite the 24-hour setback, SOL’s performance over the past week still showcases the strong sentiment. Notably, <a href="https://thenewscrypto.com/will-solana-sol-keep-up-bullish-trend-or-slip-for-a-pullback/" target="_blank" rel="noopener noreferrer nofollow">SOL</a> remains 21% below its all-time high of $259, achieved in November 2021. Recent analysis suggests that if Solana maintains its hold above the $200 level—a barrier breached for the first time in six months—the asset could continue its upward trajectory, especially with key support in the $180–$200 range.
Moreover, Solana’s Open Interest (OI) hit a record $4.28 billion earlier in the month but has since dropped by 5.18%, suggesting a possible shift toward profit-taking. Simultaneously, the trading volume surged by over 55%, highlighting strong ongoing interest despite slight bearish indicators, including a long/short ratio near 0.95. These mixed signals indicate a balance between <a href="https://thenewscrypto.com/is-xrp-gearing-up-for-the-1-rally-in-this-bull-cycle/" target="_blank" rel="noopener noreferrer nofollow">bullish</a> enthusiasm and caution.
<h3 class="wp-block-heading" id="h-sol-price-and-demand">SOL Price And Demand</h3>
Adding to the dynamics, approximately 524,030 SOL tokens (worth $110.25 million) are set for release, an increase that may slightly affect <a href="https://coinmarketcap.com/currencies/solana/" target="_blank" rel="noopener noreferrer nofollow">price</a> momentum if demand does not keep pace. However, this minor influx into the circulating supply is unlikely to significantly impact SOL’s price given the current market strength.&nbsp;
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXe01-tNCxZUFufDOQUEQ-HS1CmPv5olW5ESRoUUQzyI671GWaYEakrKTIxdvXYGPUsBbx82f49s-NRcKqqSZT9d_bfSNWwd3ohiMWmcVLJUU3GMuDZEYx2wJRfrn31ZdrjfhLkRug?key=180SoY8bMvnOTtT5csSa0M6X" alt="">
 <figcaption class="wp-element-caption">
 SOL Price Chart, Source: Sanbase
 </figcaption>
 </figure>
</div>
Looking forward, analysts predict a potential continuation of the rally, with some speculating that Solana could break into a long-term uptrend reminiscent of its 2021 performance. If historical <a href="https://in.tradingview.com/chart/EJXIwxE9/?symbol=BINANCE%3ASOLUSDT" target="_blank" rel="noopener noreferrer nofollow">patterns</a> hold, SOL could potentially reach a $1,000 valuation, especially given the strong trading volume and recent breakout above key resistance levels.
Highlighted News Of The Day
<a href="https://thenewscrypto.com/bitget-re-enters-uk-market-with-150-tokens-following-fca-approval/" target="_blank" rel="noopener noreferrer nofollow">Bitget Re-enters UK Market with 150 Tokens Following FCA Approval</a>

Can Solana Bulls Maintain Momentum After 8% Drop?

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