Solana Price Forecast: Analyst Anticipates Surge to $230 Amid Rising Institutional Interest

Institutional Support for Solana: Fidelity has made Solana (SOL) available for trading to all U.S. brokerage customers, significantly enhancing its institutional exposure and potentially increasing liquidity and price support for the asset.

Technical Indicators Suggest Bullish Momentum: Technical analysis shows a compression pattern under a descending trendline, indicating a potential breakout that could push Solana's price towards the $230 mark, supported by positive RSI and MACD signals.

Increased Trading Activity: Solana has seen a surge in trading volume, exceeding $7 billion in 24 hours, alongside a rise in leveraged long positions, suggesting growing investor confidence and a favorable trading environment.

Future Price Projections: Analysts are optimistic about Solana's price trajectory, with key levels to watch at $200 and $230; a confirmed breakout above these levels could lead to a significant rally, supported by strong institutional backing and network performance.