Solana's Cost Soaring Past $210 Signals Bullish Trend Aiming for $240 Mark
Solana, the high-performing blockchain network, has once again proven its appeal to investors, attracting another $16.1 million in inflows last week. This marks the 13th consecutive week of gains, solidifying Solana's position as a favoured choice among crypto enthusiasts.
The strong market momentum was evident as sellers were quickly forced out once Solana cleared the resistance, indicating a renewed strength in its trend. This breakout comes on the back of heavy institutional inflows and growing confidence in SOL's technical structure.
Recent financiers of Solana-focused asset management strategies include Forward Industries, which announced a $1.65 billion private placement in cash and stablecoin commitments for a Solana-focused digital asset treasury strategy, led by Galaxy Digital, Jump Crypto, and Multicoin Capital. Other notable institutions include Pantera Capital and Summer Capital, who led a $500 million private capital raise for Helius Medical Technologies to establish a Solana treasury company. Other investors involved are Big Brain Holdings, Avenir, SinoHope, FalconX, Arrington Capital, Animoca Brands, Aspen Digital, Borderless, Laser Digital, HashKey Capital, Republic Digital, Bitwise Asset Management, and SkyBridge Capital.
The assets under management for Solana-based investment products have climbed to a record $3.27 billion, giving this rally more weight than just short-term hype.
With price action stabilizing above $200, the persistent flow of capital suggests that buyers are building a strong foundation for a sustainable breakout higher. Market watchers are now looking closely as SOL presses towards the $235 to $240 zone, a range that could potentially witness a retest if the current trend continues.
Each attempt by sellers to defend levels around $210 has been absorbed quickly, leaving little resistance overhead. Analyst Ali Martinez confirms Solana has broken out of a symmetrical triangle pattern, with potential upside targets around $225 to $228. Key resistance levels to monitor in the near term for Solana sit around $216 and $224, in addition to the $235 to $240 range.
Liquidity thinning out toward the $225 to $227 zone suggests the path of least resistance is tilted upward. The latest liquidity heatmap shows SOL powering higher through heavy liquidity pockets, forcing shorts to exit as price accelerates above $220.
If Solana maintains closes above $206 to $208, the market structure favours continuation towards the $235 to $240 range. The pattern of inflows reinforces the growing perception that institutions are actively rotating into Solana's ecosystem, a trend that could potentially sustain the current bull run.
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