Solana News: $SOL Approaches $130 Mark Amid Price Recovery

Solana ($SOL) has been on a gradual recovery path following a recent decline, and investors are now eyeing a potential breakout at the $130 mark. With the price currently hovering around $129.04, $SOL is within striking distance of this psychological threshold, suggesting a strong possibility for further gains.

Solana Eyes $130 Breakout Amid Gradual Price Recovery

Solana ($SOL) shows a slight price reversal following the recent decline. At present, $SOL indicates a 0.56% increase over the past twenty-four hours. The price performance has fluctuated throughout the 24 hours, but the price spike in the latter part of the session is optimistic for further increases. Currently, the price of Solana ($SOL) is $129.04, much closer to the psychological $130 mark, indicating a strong possibility for $SOL to shortly surpass this level.

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Solana’s Path To $200? Explosive Adoption Fuels The Surge

Solana, a major player in the cryptocurrency market, could see its price climb to $200 due to a significant increase in the number of people using the Solana network. Over 11 million addresses now hold Solana’s SOL token, setting a new record and pushing Solana’s adoption to new heights. This growth indicates greater activity and belief in the long-term development of Solana.

Solana Price Struggles Below $135 as Circulation Dips to 5-Month Low

Solana (SOL) is failing to cross the $135 mark, currently stalled at $129. The market environment is deteriorating, contributing to the struggles. The Velocity of Solana has fallen to a 5-month low, signaling weakening demand. Current circulation levels are on par with those seen in October 2024, indicating that the cryptocurrency is losing traction. The drop in Velocity suggests fewer investors are actively trading SOL, adding to the bearish sentiment. This lack of demand makes a recovery increasingly difficult.