Institutions are also focusing on Solana (SOL) alongside Bitcoin (BTC) and Etheruem (ETH). As bullish expectations for SOL grow, an updated analysis has emerged from cryptocurrency analysis platform Snatiment. Accordingly, Santiment noted that Solana continues its upward trend and investor confidence is at an 11-week high. Stating that Solana has finally made a breakthrough, Santiment stated that the price has surpassed $211.7 and is approaching the resistance line formed in February. “Solana finally had a little breakthrough of his own. SOL price nearly broke the February price resistance to climb above $211.70. Retail investors are making 5.8 bullish comments for every 1 bearish comment, and investor confidence is reaching an 11-week high. Popular analyst Lark Davis also shared his SOL predictions alongside Santiment. According to Davis, Solana's recent move signals optimism among investors and a potential breakout to $255. Solana has been rejected three times from the $205 level, but higher lows and continued buying pressure suggest momentum is building, according to analyst Lark Davis. “The setup of the ascending triangle formation on the Solana chart clearly suggests the next target is $255. Daily volume exceeding $9 billion also highlights strong market participation and supports the bullish outlook,” Davis said. It was also stated that Galaxy Digital, Jump Crypto and Multicoin Capital’s joint $1 billion Solana acquisition plans and Pantera Capital’s $1.25 billion Solana move supported SOL’s recent rise. Related News: Pantera Capital, which invested in Bitcoin and eight altcoins, made a surprise move worth $1.25 billion for an altcoin! *This is not investment advice. Continue Reading: What's the Latest on Solana? Analyst Says "All Is Positive," Analyst Announces Next Price Target for SOL!
