Bullish sentiment on Solana has reached its highest level in nine months, with positive sentiment currently sitting at 20%, compared to just 9% pessimism. This optimism has pushed SOL price close to the key resistance level of $151, with trading volume surging to $1.7 billion in the past 24 hours.

Bullish momentum building

According to data from Santiment, Solana’s traders have been significantly active on social media, posting significantly more bullish posts than bearish posts. This positive sentiment reflects continued growth in investor confidence, fueling SOL's price action.

Possibility of breaking through resistance

Currently, Solana’s price is around $151.2, up more than 5% in the past four days. The 200-day moving average is emerging as resistance and, if broken, could lead to the next key target of $160. $160 has been a difficult hurdle for SOL to overcome, but the current upward momentum may help it break out.

Transaction volume surges

Solana’s trading volume has grown significantly over the past 24 hours, reaching $1.7 billion, up from $1.3 billion the previous day. This increase in trading activity typically signals increased price volatility, further suggesting that SOL may soon see a rally.

Overall, Solana’s bullish sentiment and increased trading volume provide positive signs for its future price movement. #Meme浪潮持续，你看好哪一个？ #美国大选如何影响加密产业？ #BTC突破6W5