Solana Price Prediction: Institutional Interest Boosts SOL Assets Under Management
Solana has gained institutional interest, with its assets under management crossing $365 million and an additional $12.4 million inflow during the previous week. Bitcoin and Ethereum also saw increasing inflows of $240 million and $49.1 million, respectively.
Solana’s Selling Point: Fast, Scalable, Secure, and Decentralized Network
Solana’s position in the market as a fast, scalable, secure, and decentralized network has attracted investors. Despite experiencing a sell-off to $8 in November last year, Solana’s ability to rise from the FTX saga proves that its price could reach all-time highs of $260.
Solana’s Current Trading Performance
Solana is currently trading at $60, showing positive gains of 1% in 24 hours, 5.3% in seven days, 6.4% in a fortnight, and 56% in 30 days.
Solana Price Prediction: Breaking Resistance at $62 for a Bullish Breakout
If Solana maintains its bullish structure, it could reclaim key levels and close the gap towards $100. The support at $51 confirms the uptrend, but there is strong resistance between $60 and $62. Traders should keep an eye on the Moving Average Convergence Divergence (MACD) signal and prepare for increased exposure to SOL longs once the price surpasses the immediate hurdle at $62.
Crypto.com Exchange Adds Support For SOL/EUR Trading Pair
Crypto.com has added support for new trading pairs: SOL/EUR and XRP/EUR. This development highlights Solana’s growing popularity and demand ahead of the anticipated bull run triggered by potential Bitcoin ETF approval and the halving.
Hot Take: Solana’s Institutional Interest and Positive Performance Position It for Potential Upside
Solana’s institutional interest, increasing assets under management, and positive trading performance indicate potential upside for the token. With its fast and secure network, Solana has proven its resilience in the market. Breaking resistance at $62 could lead to a bullish breakout towards $100. Additionally, the support from Crypto.com exchange adds further credibility to Solana’s growing popularity. All these factors contribute to a positive outlook for Solana’s price prediction.
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