Solana Price is what people have been talking about lately, as in T2, even the coasts of Polymarket for Solana has gone from only 15% to more than 40%.
Overall, Peter Brandt also planned his optimistic opinions for Solana in his recent post X, and gave a goal of more than $ 500. The trader’s analysis revealed that Altcoin has formed a bullish cup and a handful model.
Solana Price is preparing for a bullish return
In a recent interview, the CEO of Ark Invest, Cathie Wood, underlined her opinions on the reasons why Solana becomes the center of stage for a major cryptography innovation. She said, reduced costs, the higher interest of developers and adoption adoption is what Solana verifies all the measures required.
In addition, the recent report of the first quarter of the average daily volume of Dex Messari increased by 40.8% to 4.6 billion dollars. This was fueled by the renewed speculation of the same, as well as after the launch of the Trump token.
The growing optimism for the crypto stimulates the feeling of investors, and it seems that the soil price could be on the way to a magnificent increase.
On the technical side, Sol Price has shown a bullish crossing between 20 days and 50 days of EMA bands, and hands exchange at $ 176, after 25% of earnings compared to a hollow of May of $ 141.5.
The upward trend observed in the second quarter has so far built a rounded upward structure with a neckline near the $ 182 supply area. Consequently, if Solana Price pierces this supply area and maintains more than $ 182 after a daily fence, it could start the next bull race.
While Solana Price is preparing for upcoming recovery, analyst Peter Brandt provides for a cup and manipulation model on the weekly graph, where the reason has a neckline nearly $ 290 and that escape can give a goal of $ 518, and beyond, it could also cost $ 700.
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Oilnant data support for Solana Price data support
According to Defilma’s records, Solana TVL reached almost 12 billion USD in January, but due to geopolitical conditions affecting most altcoins, even Solana TVL dropped to $ 6.6 billion in the first quarter.
However, in the second quarter with an increase in feeling and prices, its TVL began to increase and, in May, it recovered at $ 9.314 billion. Even the platform saw its user addresses return, which reached 5.82 million in the second quarter.
However, the market capitalization of the stables continued to increase, despite the reshuffles, and in May, it amounts to $ 11.518 billion.
In addition, the “percentage of the total stablecoin offer owned by whales with more than $ 5 million” has increased, which means that the main players constitute substantial reserves of deployable capital.
They could use stablescoins to run large volume purchases when identifying favorable entry points or anticipate the upward price in Solana.
In addition, the social volume of the Solana crypto has seen a peak in the last two days, with the rise in prices. This alludes to a possible awareness of crypto among users.
Growing corporation can also have a positive impact on Solana’s price, because the growing participation of users can create more demand and help the price to progress.
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