Solana (SOL) is showing renewed strength, currently trading at $167.89 after rising from an intraday low of $164.64 to a high of $171.65. The price action reflects growing demand for SOL amid strong DeFi activity, institutional accumulation, and technical breakout patterns, despite brief corrections in recent sessions.Solana Holds Bullish Structure Amid VolatilityAfter surging over 6% from a previous low of $159.69, Solana now consolidates near $168 following a series of higher lows and higher highs that broke key resistance levels around $166.87. This pattern signals a bullish reversal, supported by increasing trading volume and on-chain strength.Updated Technical Analysis Highlights:Current Price: $167.89Intraday Range: $164.64 – $171.65Resistance Level: $172.00Support Level: $162.00Price previously climbed from $159.69 to $173.03, gaining 8.35% during that move.Above-average volume concentrated in the $167–$170 range, indicating strong buyer activity.Notable support was found at $160.34, where large-volume buyers stepped in early in the session.A brief 1.35% correction occurred recently, with the price falling from $172.19 to $169.87 before rebounding.Final trading sessions show diminishing volatility and selling pressure, signaling potential exhaustion on the downside.DeFi Demand and Treasury Buys Fuel UptrendThe recent rally in SOL follows surging on-chain decentralized exchange (DEX) volume, which hit $35.6 billion in weekly turnover, reinforcing Solana's growing role in DeFi ecosystems. In addition, a $24 million treasury acquisition by DeFi Development has further catalyzed bullish sentiment and price momentum.This strong capital influx suggests long-term investor confidence in the Solana ecosystem, with demand for its high-throughput blockchain infrastructure rising amid market-wide risk-on behavior.Broader Macro Context Adds FuelSolana's surge is happening amid increased market volatility driven by geopolitical tensions and trade uncertainty among major global economies. These macro conditions have led to heightened correlation between crypto markets and traditional financial instruments, with Solana standing out among leading altcoins.Key Levels and What Comes NextAnalysts now identify the $166.82 level as a short-term pivot, with $172–$177 seen as the next resistance zone to watch. A sustained breakout above these levels could push SOL toward $184, aligning with broader altcoin rotation cycles.With institutional accumulation evident in the volume data and DeFi activity accelerating on-chain, Solana’s current consolidation phase may precede another upward leg—if the $170 psychological level can be reclaimed and held.
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