Today major cryptocurrency tokens like Solana (SOL) increased as market participants returned from their low points. The SOL token grew by 4% to catch the interest of investors who watch the market for Bitcoin’s performance.
Through my writing, the Solana price stands at $179.70 and keeps rising by 4% after 24 hours. After dropping to $161.54 in three months the cryptocurrency market saw SOL increase by 4%. Buyers returned to investing because their concerns about the LIBRA meme coin scam abated.
Solana’s value grew because the entire market recovered. Bitcoin rose to $97,800, and at the same time, Binance Coin tested its peak value at $667.10, which brought back positive trading expectations. Investor institutions increased their trading in SOL by 10%.
Whale Transactions and Institutional Interest Boost Solana Price
The on-blockchain data shows that big wallet holders sent more transactions through the network. A major Solana whale transferred 174,767 SOL tokens worth around $29.88 million to start them in the network. Large investors show conviction by making buy transactions that lead other traders to feel more positive about the asset.
The whale accumulated $SOL again!
In the past 4 days, this whale has withdrawn 174,767 $SOL($29.88M) from #Binance and staked it.https://t.co/ZzuUdAC6W8https://t.co/JsViKskKFk pic.twitter.com/EyMswAdKsT
— Lookonchain (@lookonchain) February 21, 2025
More people starting to use Solana affects its market value. Coinbase plans to list Solana futures on its platform to bring more institutional participants to the token market.
Solana continues to decline and has faced pressure on its daily chart since its drop from the $260 level. For months, it has been facing a 44% downward trend as traders analyze where the price may move next.
A price of $168 serves as an essential support area for SOL in the market. When traders successfully defended $168, the market rose by 4%. Continued momentum might lead to a price rebound at $190 as part of a normal market adjustment.
Solana’s Key Levels: $168 Support, $190 Resistance Ahead
Many analysts predict SOL will rise from $190 to $200 or $210 based on its current market activity. If SOL fails to defend $168 in price it may slide back to $155 followed by additional decreases down to $140.These predictions depend on what happens in the market since cryptocurrency prices constantly shift in response to global events.
The 4% boost in Solana’s price marks strong market demand for its token and demonstrates its ability to survive market fluctuations. Institutional investors show more interest in Solana, while debate about an ETF continues, which suggests the token will grow in value.
The price needs to stay above $168 to keep the market heading upward. The market should push SOL above $168 to reach $190 as a minimum target along with $200 and $210. The price will probably move down to $155 or $140 if SOL breaks through this floor support. Layborative research about a given asset and watchful trading will shield investors from market unpredictability.
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