$SOL was still at around $100 a few days ago.
Now it’s not far from the $120 target.
$SOL has already moved back above $110.
When $BTC dropped to around $75,000 a few days ago, SOL also fell to around $100. Now that BTC has reclaimed $85,000, SOL has rebounded in sync. The previously mentioned $120 target is now close.
This SOL rally has real on-chain business support. Stablecoin transfers, decentralized exchanges, and tokenized assets are all using the Solana network. But whether the increase in trading volume can be sustained into ongoing SOL demand depends on network fees, staking, and whether applications can retain users.
I was watching SOL around the $100 level before, and I won’t rush to sell my position just because it rebounds by a few percentage points.
First, let’s see if it can break through $120. After a breakout, if it can hold its ground on the pullback, then we’ll reassess the price above.
Now it’s not far from the $120 target.
$SOL has already moved back above $110.
When $BTC dropped to around $75,000 a few days ago, SOL also fell to around $100. Now that BTC has reclaimed $85,000, SOL has rebounded in sync. The previously mentioned $120 target is now close.
This SOL rally has real on-chain business support. Stablecoin transfers, decentralized exchanges, and tokenized assets are all using the Solana network. But whether the increase in trading volume can be sustained into ongoing SOL demand depends on network fees, staking, and whether applications can retain users.
I was watching SOL around the $100 level before, and I won’t rush to sell my position just because it rebounds by a few percentage points.
First, let’s see if it can break through $120. After a breakout, if it can hold its ground on the pullback, then we’ll reassess the price above.