Solana (SOL) is at a pivotal point as it approaches the $147.49 support level, which could dictate its next price movement. This level is significant due to its alignment with the 61.8% Fibonacci Retracement and a TD Sequential sell signal. A close below $147 on increased trading volume might push SOL towards the $135–$140 range. However, maintaining this support could trigger a 15–25% rally, potentially reaching $165–$185.
Institutional interest in Solana is rising, highlighted by the launch of new spot ETFs such as Bitwise’s Solana Staking ETF and Grayscale’s GSOL, which have seen substantial inflows. Additionally, Solana's network metrics remain robust, with active addresses hitting 83 million and total value locked (TVL) at $12.9 billion, indicating strong network activity and investor confidence.
Solana Faces Critical $147 Support Level Amid Institutional Interest
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