Solana RWA Ecosystem Hits $1.15B Milestone: SOL Eyes Decisive Break Toward $300
The Real-World Asset (RWA) ecosystem of Solana has achieved an important milestone, reaching an all-time high market valuation of $1.15 billion. This milestone indicates that Solana’s ecosystem has become an important settlement layer for tokenized traditional assets, with funds increasingly flowing on-chain in pursuit of efficiency, transparency, and accessibility.
Source: X
The sources of growth are comprised of U.S. Treasury debt, public equities, institutional alternative funds, and non-U.S. government debt. Such a composition is indicative of the growing institutional confidence and is reflective of the growing position of Solana as one of the prominent hubs for tokenized finance, which is a reflection of the rapid integration of traditional markets and blockchain infrastructure.
Also Read: Solana TVL Jumps 10x Since 2024 While SOL Tests Critical Levels
Solana Reclaims Key Levels as Bulls Regain Control
However, the crypto analyst, curb.sol, revealed that one of the most convincing technical breaks just made by SOL has been the decisive breakout above a horizontal resistance level that has been in place for the past two months and, at the same time, overcoming a descending trendline that has been in place for the past four months. The simultaneous breakout of two important levels strongly indicates that the bears have finally lost control.
Source: X
From a market standpoint, these dual resistances tend to serve more as acceleration points rather than gradual grind phases. With price acceptance beginning to form above former resistance levels, momentum traders have begun to target higher liquidity regions.
If this follow-through volume is sustained, SOL’s move towards the $200+ levels might happen sooner than many think, again putting Solana’s SOL in the limelight for being one of the top high-beta layer 1 assets.
SOL Accumulation Phase Sparks $300 Price Speculation
Moreover, another crypto analyst, Shah, highlighted that SOL has begun a 652-day period of accumulation, which has traditionally preceded strong price rallies as network fundamentals continue to improve.
Solana has traditionally experienced periods of volatility, but there has been steady buying pressure, as indicated by on-chain data despite market uncertainties. A period of consolidation has traditionally preceded price rallies in Solana.
Source: X
Analysts now believe the extended base can spark a strong breakout, with price predictions ranging to $300 in April. The forecast corresponds with the resistance level in the past and the renewed development activities.
If the outcome of the accumulation is positive, the sidelined funds can come back in quickly to spark the next SOL price rise based on the market conditions in the global crypto market sentiment.
Also Read: Solana (SOL) Price Strengthens After $10.8M ETF Inflows, Bulls Target $180
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