Major cryptocurrencies are still falling, but SOL has turned positive: up 0.7% in 24 hours, making it the only major coin among the top by market cap to post a gain (BTC -0.4%, ETH -0.3%).
It tested the $103 level once yesterday and again today, and held both times. The rebounds after two tests of the lows are more convincing than one isolated big green candle. Trading volume of $150 million isn’t a surge, but sellers appear to be running out of steam.
My take: Solana has seen a cluster of positive fundamental developments recently—the Alpenglow upgrade went live, and annual stablecoin transfer volume topped $5 trillion. Buyers are stepping in on pullbacks, suggesting the market is repricing its role in settlement.
This isn’t a buy recommendation, just a reminder: turning positive doesn’t mean a reversal. To confirm strength, first watch whether it can break above $105 and hold. The signal only counts if it also holds up when the broader market retests its lows.
#Solana $SOL
It tested the $103 level once yesterday and again today, and held both times. The rebounds after two tests of the lows are more convincing than one isolated big green candle. Trading volume of $150 million isn’t a surge, but sellers appear to be running out of steam.
My take: Solana has seen a cluster of positive fundamental developments recently—the Alpenglow upgrade went live, and annual stablecoin transfer volume topped $5 trillion. Buyers are stepping in on pullbacks, suggesting the market is repricing its role in settlement.
This isn’t a buy recommendation, just a reminder: turning positive doesn’t mean a reversal. To confirm strength, first watch whether it can break above $105 and hold. The signal only counts if it also holds up when the broader market retests its lows.
#Solana $SOL