Solana price news: Total value locked hits $12.27B — institutional inflows and meme coin activity fuel momentum

Traders Union
All News
Crypto News
Solana Rises 0.89% to $220.91 Today

Highlights

Solana (SOL) trades at $220.91, up $1.94 or 0.89% today, well above MA-20 ($204.92), MA-50 ($189.99), and MA-200 ($158.62), confirming bullish technical structure.
Total value locked on Solana reached a record $12.27 billion and market capitalization exceeded $120 billion, fueled by rising institutional treasuries, meme coin migration, and network upgrades.
SOL is projected to move sideways above key supports with over 80% probability of gains, targeting $234.19–$245.89 in the next five sessions unless $197.72 support breaks.

Network upgrades and new flows propel Solana to record metrics

Solana’s total value locked has reached a record $12.27 billion, reflecting surging usage and substantial blockchain activity. This climb follows a notable price rally from June lows, aided by increased institutional treasuries and meme coin migration to Solana’s network. Market capitalization surpassed $120 billion, driven by network upgrades and expanding developer activity. Additional partnerships and increased public holdings further support the asset's upward momentum.

Conflicting momentum signals emerge amid balanced technical support

Technically, SOL's dynamic support is found near the Ichimoku Kijun at $197.72, with resistance likely around the psychological $225 zone or above the MA-50. Momentum indicators present a mixed outlook: MACD is in buy mode, but the daily ADX suggests weak trend strength. The RSI at 60.08 and Stoch RSI values flag a moderately overbought market, while the CCI is overbought and the BBP is neutral, indicating a balanced short-term intraday battle between buyers and sellers. The Awesome Oscillator remains negative, not confirming the current strength, while moderate intraday volatility underpins sustained price firmness despite conflicting momentum signals.

Sideways action favored as upside breakout risk builds

In the short term, SOL is expected to trade within a $234.19 to $245.89 range over the next five sessions, with over an 80% probability of further gains. The baseline scenario anticipates sideways movement above key supports. A bullish breakout could push the price above $225 and toward the upper end near $245. If downside pressure emerges with a break below $197.72, a retracement toward $190 becomes possible, but this remains an unlikely scenario for now.

Anton Kharitonov, expert at Traders Union, sees Solana maintaining a constructive technical setup while acknowledging mixed momentum indicators and moderate overbought conditions. The analyst believes the base scenario is sideways movement above the $197.72 support, with bullish continuation likely if $225 is convincingly cleared — downside risk remains limited unless that key support is broken. "I am tactically neutral to positive here, focused on capital protection until we see either a confirmed breakout above $225 or renewed weakness below $197.72."

Last time we reported that CEO Andrey Kalashnikov stepped down after eight years at the helm of TrioMarkets. Under his leadership, the CySEC CIF license was obtained for the broker's Cypriot subsidiary, EDR Financial Ltd.

Source of Data: SOL Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.