- Social media users express an 18:1 positive attitude toward Solana (SOL) as BlackRock integrates its funds.
- SOL holds the position as the second-largest blockchain according to Total Value Locked, which currently stands at $6.8 billion.
- Solana trades near $140 and shows potential to advance toward $160-$180 levels as support and resistance zones strengthen their positions.
Solana (SOL) continues to climb due to institutions adding it to their portfolios and widespread interest in its growing network infrastructure. The increase in Solana (SOL) positivity results from two major factors stemming from BlackRock’s Solana-based BUIDL fund integration and GameStop-related discussion.
According to DefiLama data, the Total Value Locked (TVL) metric places Solana in the second position as the largest network with estimated capital of $6.8 billion.
Santiment Reports Rare 18:1 Positive Sentiment Ratio for SOL
Santiment shows Solana reaches an astounding 18-to-1 ratio of positive content versus negative content among main social networking platforms. Based on data from the platform, this elevated optimism derives from BlackRock’s fund integration and continuous community activity which emerged because of crypto market analysis about GameStop.
The Santiment data showcases a substantial increase for SOL, which demonstrates broad acceptance of its extended future potential due to building institutional blockchain solution awareness. The platform records that these intense swings in public opinion historically lead to positive price trends for this specific asset. The value of Solana (SOL) continues to support key levels while attempting to break through price resistance zones.
Solana Poised for Major Breakout, IC News Reports
IC News reports that Solana shows promising bullish potential as a platform that recently outlined the altcoin’s upcoming short-term price increase.
IC News based its outlook on SOL breaking through the Falling Wedge formation because this technical pattern provides a reversal signal during periods of decreasing performance.
SOL has witnessed an effective breakout which boosted both its momentum and value potential and thus improved the odds of continued upward movement. The cryptocurrency has the potential to overcome significant resistance points in upcoming months because supportive market conditions exist according to analyst projections.
Solana Price Analysis
Solana (SOL) maintains a trading position at $139.03 which slightly exceeds its 20-day Exponential Moving Average (EMA) at $136.57 on March 27. SOL has price increase of 0.84% yet it currently engages with the vital support boundary formed by the 20-day Exponential Moving Average at $136.57.
SOL remains dormant in price movements near the $130.94 middle Bollinger Band while potential resistance occurs from $143.71 at the upper band. A successful price climb above this level will initiate an upward movement toward $160, where further resistance could appear at $180. The price supports a strong resistance position at $118.16.
RSI has reached a value of 48.62, which signals a market condition of neutrality. The price surpassing 50 indicates increased purchasing activity that might transform market sentiment toward bullish control.
The existing positive market outlook for SOL creates conditions for long-term price growth toward the $150 psychological zone during the upcoming period. The bullish trend faces a potential risk of weakening and a potential price retest at $118 if SOL fails to maintain its position above $130-$131 middle Bollinger Band.
