The on-chain activity of Solana has significantly increased, with its 24-hour transaction volume reaching $13.072 billion, accounting for more than 50% of all blockchain transactions. The 7-day volume has also surged to $140.098 billion. This growth reflects Solana's growing influence in the blockchain space, likely driven by the adoption of decentralized finance (DeFi) and increased trading. Solana (SOL) currently trades at $248.94 with key resistance levels at $260.00 and $270.00. If SOL breaks above $270.00, it could rise to $280.00 and possibly even $300.00, especially if volume continues to grow. The bullish trend is supported by Solana's price trading above the 20, 50, and 100 Exponential Moving Averages (EMAs) and the Relative Strength Index (RSI) at 63.23. The high transaction volume indicates increased market interest and potential price momentum. On the upside, a break above $270 could lead to further gains, with price targets of $280 and potentially $300-$350. However, failure to hold the $250 support level could result in a short-term pullback, with $240 and $220 as critical support zones.



Other News from Today