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Recently, the crypto assets market has been generally sluggish, but Solana (SOL) has shown extraordinary resilience. According to the latest report, the trading price of SOL remains around 180 dollars, with a rise of 1.07% within 24 hours, leading to an increase in market capitalization. This performance highlights investors' continued confidence in SOL.
There are multiple factors supporting the strong performance of Solana. Firstly, the regulated SOL perpetual futures product launched by Coinbase has injected new momentum, which is expected to attract more institutional investors. Secondly, the technical advantages of the Solana network itself, such as high-speed transaction processing and low fees, along with its thriving development in decentralized finance (DeFi) and non-fungible tokens (NFT), have laid a solid foundation for its long-term growth.
However, Solana also faces some potential risks. Latest data shows that some large holders are transferring SOL to exchanges, which may indicate an upcoming profit-taking wave. At the same time, the U.S. Securities and Exchange Commission (SEC) has yet to make a ruling on the Grayscale Solana ETF, bringing uncertainty to the market. If the ETF application is rejected, it could put short-term pressure on the SOL price.
From a technical analysis perspective, SOL has recently broken below the important support level of 204.41 USD, and the MACD indicator is also showing a bearish trend. However, the Relative Strength Index (RSI) has not yet entered the oversold territory, leaving room for a possible rebound.
Despite potential fluctuations in the short term, many analysts remain optimistic about the long-term prospects of Solana. Some institutions predict that by 2030, the price of SOL may break through the $1,000 barrier. However, given the high uncertainty of the crypto assets market, investors should exercise caution when making decisions, thoroughly assess risks, and base their actions on comprehensive market research.