$SOL the price surges 12.09% and reaches a six-month high with record volume
Solana leads the crypto market rally with a 12.09% jump in 24 hours to USD $108.57, supported by daily volume of USD $7.47 B, nearly triple its monthly average, rising open interest, and two governance proposals that could cut USD $1.5 billion in SOL issuance.
Catalyst confirmed by sources: two governance proposals on the Solana network (SIMD under discussion) that could reduce the token’s future issuance by up to USD $1.5 billion. Several financial media outlets reported that SOL was trading near USD $105 with gains of 9% while validators weigh this change, which would reduce structural selling pressure.
Its current valuation of USD $63.41 B in market capitalization consolidates it as one of the most relevant layer-one assets in the sector, although it is still 63.00% below its all-time high of USD $293.41 reached on January 19, 2025.
Recommendation: HOLD for existing positions, with staggered buying only on pullbacks. The methodology used weighs five signals:
(1) break above USD $100 with a close above it, valid;
(2) relative volume of 193% above average, valid;
(3) rising open interest validating the breakout, valid;
(4) fundamental catalyst of ongoing supply reduction, valid;
(5) technical overextension of 33% above the SMA-200 with 12.68% distance above the SMA-7, invalid or a warning.
For the short term (days to weeks): trade $SOL the pullback, not the euphoria. Suggested entry zone: USD $100.88-103 in case of a pullback with declining volume, with a stop loss below USD $96.34 and first take profit at USD $109.42, extending to USD $115-120 if continuation is confirmed.
SOL combines the best set of sector catalysts right now: a potential USD $1.5 billion reduction in issuance
Solana leads the crypto market rally with a 12.09% jump in 24 hours to USD $108.57, supported by daily volume of USD $7.47 B, nearly triple its monthly average, rising open interest, and two governance proposals that could cut USD $1.5 billion in SOL issuance.
Catalyst confirmed by sources: two governance proposals on the Solana network (SIMD under discussion) that could reduce the token’s future issuance by up to USD $1.5 billion. Several financial media outlets reported that SOL was trading near USD $105 with gains of 9% while validators weigh this change, which would reduce structural selling pressure.
Its current valuation of USD $63.41 B in market capitalization consolidates it as one of the most relevant layer-one assets in the sector, although it is still 63.00% below its all-time high of USD $293.41 reached on January 19, 2025.
Recommendation: HOLD for existing positions, with staggered buying only on pullbacks. The methodology used weighs five signals:
(1) break above USD $100 with a close above it, valid;
(2) relative volume of 193% above average, valid;
(3) rising open interest validating the breakout, valid;
(4) fundamental catalyst of ongoing supply reduction, valid;
(5) technical overextension of 33% above the SMA-200 with 12.68% distance above the SMA-7, invalid or a warning.
For the short term (days to weeks): trade $SOL the pullback, not the euphoria. Suggested entry zone: USD $100.88-103 in case of a pullback with declining volume, with a stop loss below USD $96.34 and first take profit at USD $109.42, extending to USD $115-120 if continuation is confirmed.
SOL combines the best set of sector catalysts right now: a potential USD $1.5 billion reduction in issuance
