Key Notes
- Solana rebounded strongly after dipping below $150 earlier this month.
- Trading volume jumprf 60%, reaching $5.52 billion in 24 hours.
- Analysts see potential breakout above $167 that could trigger new highs.
Solana
SOL
$167.5
24h volatility:
5.2%
Market cap:
$92.66 B
Vol. 24h:
$5.63 B
has regained bullish momentum after a recent correction pushed its price below the $150 mark. At the time of writing, the cryptocurrency is trading around $168.2, up by 6.4% over the past 24 hours, adding nearly $6 billion to its market capitalization.
The rally has also boosted SOL’s 24-hour trading volume by 60%. According to the data by CoinMarketCap. The total volume now stands at $5.52 billion, reflecting renewed investor confidence.
Analysts Highlight Key Zones
According to popular market analyst Hardy, Solana has been forming an ascending triangle pattern since early November, a pattern often suggesting bullish continuation. He noted that SOL faces a key resistance level near $167.
The analyst believes that a sustained close above this level could lead SOL to a rally toward $184, assuming Bitcoin maintains its current momentum without sudden volatility spikes.
On-chain analyst Ali Martinez also shared Solana’s UTXO Realized Price Distribution (URPD) chart by Glassnode. The data visualizes the price levels at which current holders last transacted their tokens.
Martinez pointed out that the $147.49 range shows the highest concentration of buying activity, making it a crucial support zone. Maintaining strength above this level signals strong market confidence, while a breakdown could expose SOL to further downside pressure.
This price optimism comes as Solana recently outperformed rivals, including Ethereum and BNB Chain, in DEX volumes and staking activity.
SOL Shows Signs of Early Bullish Momentum
On the daily chart, the Bollinger Bands show that SOL is rebounding from the lower band near $148. It is now approaching the midline (20-day SMA) around $168, a sign of improving momentum.
A clear breakout above the upper band near $179 could validate bullish continuation.
SOL price chart with RSI and Bollinger Bands | Source: TradingView
Meanwhile, the RSI is currently indicating that the cryptocurrency has emerged from oversold territory and has enough room to surge before overbought conditions.
If RSI climbs further upwards, alongside expanding Bollinger Band width, it could confirm renewed buying strength. Analysts suggests that a sustained surge could help Solana to retest the $200 zone in the coming weeks.
PEPENODE Secures Over $2M as SOL Price Jumps
The excitement around SOL price surge is spilling over to PEPENODE, a new project drawing strong investor interest. The team behind PEPENODE wants to make crypto mining fun, accessible, and interactive, turning what’s usually a technical process into a virtual gaming experience.
Instead of spending thousands on mining hardware, users can build their own digital mining empires inside the platform. The game lets players set up virtual server rooms, purchase and upgrade miner nodes, and improve their digital setups to boost performance.
Pepenode is designed to be simple to use, even for newcomers, while still offering depth and strategy for experienced players.
PEPENODE Token Model
Built on the Ethereum network, PEPENODE runs on a deflationary token model. This means that about 70% of tokens used in node purchases and upgrades are burned, gradually shrinking the total supply.
This mechanism is designed to increase scarcity over time and potentially enhance token value.
So far, the project has raised $2.1 million in one of the best crypto presales this year. It has also rewarded early participants with staking returns of up to 614%, reflecting strong community engagement and early growth. On Coinspeaker, you can read a PEPENODE price prediction.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
Parth Dubey on LinkedIn
Source: https://www.coinspeaker.com/sol-sees-60-percent-uptick-volume-new-highs/
