Solana Price Holds $200 As Transaction Speed Hits Record
The post Solana Price Holds $200 As Transaction Speed Hits Record appeared on BitcoinEthereumNews.com. Key Insights: Solana price exchanged hands at $201 at press time, up 9% in 24 hours Network throughput reached more than 2,300 transactions per second Analysts tracked resistance near $220 and longer-term levels around $294. Solana (SOL) price was around $200 at press time. The token added 9% over the past 24 hours and about 7% in the past week. Monthly gains stood at 8%. Amid the recent rally, the network reached a record transaction speed while traders assessed whether the token could test the $200 level. Solana Price Rallies Sparking Optimism The Solana price held above $200 at press time after several sessions of downward pressure. Analysts said maintaining this range signaled continued demand despite broader market uncertainty. The structure of the chart showed an inverse head-and-shoulders pattern on the 12-hour time frame. This formation is often seen as a potential reversal signal when support is maintained. The current base of around $180 created a zone for buyers to defend. Analysts noted that if the Solana price turned $200 into support, the token could test higher resistance levels near $210 and possibly $220. A move through those zones would leave $294, the prior all-time high, as the next major technical target. Momentum indicators pointed to higher lows, which suggested buyers were in control. The pattern of higher lows and a defended range underlined the constructive setup for the token. Solana Price Action | Source: Crypto Mechanic, X Solana Price Supported by Network Growth Amid Solana price rally, on-chain data showed consistent growth in SOL network activity. Transaction counts rose steadily over the past several years. Market participants said the increase demonstrated that the network was seeing more real-world usage. Mert from Helius, a Solana development firm, reported that successful transactions continued to rise “up and to the right.” While…
The post Solana Price Holds $200 As Transaction Speed Hits Record appeared on BitcoinEthereumNews.com.
Key Insights: Solana price exchanged hands at $201 at press time, up 9% in 24 hours Network throughput reached more than 2,300 transactions per second Analysts tracked resistance near $220 and longer-term levels around $294. Solana (SOL) price was around $200 at press time. The token added 9% over the past 24 hours and about 7% in the past week. Monthly gains stood at 8%. Amid the recent rally, the network reached a record transaction speed while traders assessed whether the token could test the $200 level. Solana Price Rallies Sparking Optimism The Solana price held above $200 at press time after several sessions of downward pressure. Analysts said maintaining this range signaled continued demand despite broader market uncertainty. The structure of the chart showed an inverse head-and-shoulders pattern on the 12-hour time frame. This formation is often seen as a potential reversal signal when support is maintained. The current base of around $180 created a zone for buyers to defend. Analysts noted that if the Solana price turned $200 into support, the token could test higher resistance levels near $210 and possibly $220. A move through those zones would leave $294, the prior all-time high, as the next major technical target. Momentum indicators pointed to higher lows, which suggested buyers were in control. The pattern of higher lows and a defended range underlined the constructive setup for the token. Solana Price Action | Source: Crypto Mechanic, X Solana Price Supported by Network Growth Amid Solana price rally, on-chain data showed consistent growth in SOL network activity. Transaction counts rose steadily over the past several years. Market participants said the increase demonstrated that the network was seeing more real-world usage. Mert from Helius, a Solana development firm, reported that successful transactions continued to rise “up and to the right.” While…
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