Leggi questo articolo in Italiano
Solana: BULLISH prospects even after ATH
By Davide Grammatica
Progress compared to a spot SOL ETF and steadily increasing volumes may take Solana well beyond new ATH, analysts say
Solana FLIES. What can we expect?
According to several analysts, although Solana has just registered new ATHs, the most popular layer-1 of the moment may have even better prospects.
In fact, the momentum of the progress recorded in SOL spot ETFs, along with a general improvement in the ecosystem’s fundamental data, may not have worn off, attracting new institutional demand and mainstream audiences.
Among the most “bullish” is, for example, Raoul Pal, founder of the Real Vision platform and a supporter of Solana even in its darkest times, when it collapsed to $8 following the FTX bankruptcy.
The deciding factors for a rise
The application for approval of a SOL spot ETF submitted by VanEck and 21Shares, according to Pal, would not be taken lightly. It indicates real interest in SOL in the institutional space, which could strengthen bullish sentiment around its price in no small part.
But pushing just as strongly is the retail audience, which is contributing in recent weeks to a noticeable improvement in key data such as the number of monthly active users, which has reached 134.60 million.
Thus increasing number of wallets and transactions, testifying to healthy network activity and increased mainstream adoption.
Even from a chart perspective, SOL appears to be set in a blatantly bullish setup, with rising buying pressure that could take the token “even above $300”.
Only a break of the support level around $235 could invalidate this move, for a potential descent to $215. It seems unlikely at this time, however, to see a sudden change in community sentiment.
