SOL price reclaims $200 as Solana TVL surpasses $11B milestone: what’s next?
Main Idea
Solana (SOL) has reclaimed the $200 price level, supported by a surge in Total Value Locked (TVL) to over $11 billion, indicating strong demand and potential for further price gains.
Key Points
1. Solana's price has surpassed $200, a key psychological level, for the first time since February 11, driven by organic demand and bullish momentum.
2. Solana's TVL reached $11.69 billion, signaling strong blockchain activity and increased capital inflow into the ecosystem.
3. SOL's price increased by over 12% in 24 hours, with trading volume up by more than 100%, reflecting robust trader interest.
4. Analysts highlight $189 as a critical resistance level, with potential for further gains if SOL stabilizes above this mark, possibly reaching $254 or higher.
5. Key ecosystem platforms like MarginFi, Kamino, and Jito are contributing to Solana's growth, with investor accumulation noted at $18-$25 and $85-$110 price ranges.
Description
Solana (SOL) leads crypto gainers on Tuesday as it once again trades above the crucial historic and psychological mark of $200. SOL has failed to reclaim this region since losing it on February 11 due to amplified selling pressure that saw it hit YTD lows of $106 in early April. Meanwhile, the altcoin has reclaimed the $200 mark today following significant rallies since the early July bullish pattern . With organic demand as the primary catalyst, what is next for Solana prices? Solana regains $2...
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