Solana (SOL) Gains Over 5% Amid Rising Institutional Interest and Robust DeFi Growth
Solana is capturing the attention of institutional investors as its decentralized finance (DeFi) metrics demonstrate significant expansion, laying a strong foundation for further price appreciation.
While global markets grapple with increasing trade tensions among major economies, causing turbulence across both traditional and crypto sectors, Solana has stood out with notable resilience. Over the past 24 hours, SOL surged more than 5%, breaking above the key $180 support level for the first time since February, according to CoinDesk Research’s technical analysis.
Technical Highlights
- SOL established a clear upward trend supported by strong buying volume around the $173 mark. This buildup culminated in a powerful breakout at 19:00, when SOL jumped 5.8% on trading volume of 2.5 million tokens — more than double the average for the day.
- Although SOL retreated slightly from its intraday high of $184.72, it held firm above the $180 support, indicating sustained bullish momentum. Resistance has now formed near $184.
- In the last hour, SOL showed heightened volatility, rallying to a peak of $182.47 before facing heavy selling pressure that pushed the price down 1.24% to $180.21.
- This price movement created a clear distribution pattern, with volume spikes surpassing 79,000 units during the correction phase, establishing a new resistance band between $182.00 and $182.50.
- After bouncing off support near $180.37, SOL attempted to recover toward $181.50 but met renewed selling interest, leading to consolidation between $180.80 and $181.40 as traders evaluate the strength of the ongoing uptrend.
As Solana continues to attract institutional capital and DeFi activity grows, the token looks positioned for potential further gains—though near-term consolidation suggests traders remain cautious amid broader market uncertainty.
