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>>Solana is attempting to break through the $235 level following a recovery, with potential for further gains to $253 driven by increased institutional investment and expanding network activity.

Solana is attempting to break through the $235 level following a recovery, with potential for further gains to $253 driven by increased institutional investment and expanding network activity.

crypthub

1 day ago

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Solana Price Action

Solana is rebounding, testing $235 resistance after finding support at $220. A potential breakout could target $253, driven by rising institutional buying and increased trading volume. Network revenue reached $141M in September, indicating strong on-chain activity.

Institutional Influence and Supply

Significant institutional accumulation is influencing the price, with public firms holding 13.4M SOL and corporate treasuries adding $530M in purchases. This reduced supply is tightening market dynamics and bolstering upward pressure on the price.

Trading Strategies and Frameworks

COINOTAG recommends implementing disciplined trading strategies with clear rules and repeatable steps. Utilize watchlists, alerts, and flexible order control to execute trades effectively. Focus on process over noise and let data guide decisions for consistent outcomes.

Monitoring and Outlook

Monitor trading volume and on-chain metrics to evaluate Solana's momentum and potential breakout. Look for confirmations above $235 with rising volume. A calm, structured approach is crucial for navigating volatile markets.