Solana aims for 8-month high
Solana aims for 8-month high fuelled by strong institutional demand, rising on-chain activity, and bullish technical signals.
Solana aims for 8-month high
Solana’s rally is being fuelled by strong institutional demand, rising on-chain activity, and bullish technical signals. Corporate treasuries now hold more than $1.7 billion worth of SOL, and analysts suggest up to $2.6 billion more could flow in, amplifying buying pressure.
At the same time, Solana’s Total Value Locked has risen by about 15% in the past month, while futures open interest point to further upside. These dynamics are magnified by Solana’s smaller market capitalisation compared with Ethereum, making its price more sensitive to new inflows.
Institutional adoption is also a major driver. A new partnership between the Solana Foundation and R3, involving major banks like HSBC, Bank of America, and Euroclear, positions Solana at the centre of asset tokenization in traditional finance.
Combined with the broader crypto rally - driven by expectations of supportive US economic data and Federal Reserve rate cuts - these factors have strengthened confidence in SOL’s momentum, pushing it toward higher price targets.
Solana bullish scenario:
While Solana remains above Friday's intraday low at $201.05, it is likely to try to retest its $206.32 July peak and its $209.88 mid-August high.
A rise above this week's high at $212.97 would may lead to the August peak at $217.93 being overcome.
In this scenario the November 2021 peak at $260.05 and the November 2024 high at $264.53 represent possible upside targets ahead of the January high at $295.11.
Solana bearish scenario:
Were Solana to fall through Friday's $201.05 intraday low, the early September low at $194.23 may be retested.
If fallen through, the August-to-September support line at $192.95 may be retested. Further down sits the 25 August low at $185.55.
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