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The latest market data shows that the price of Solana (SOL) digital asset has strongly broken through the $185 mark, with the current trading price climbing to $191.59. Since the beginning of this week, the cumulative increase in SOL's price has reached 9%, successfully breaking through the key resistance range of $180 to $190. It is worth noting that this range has now transformed into an important support level, further consolidating SOL's upward momentum.
From multiple perspectives, the recent surge in SOL has been supported by several favorable factors. Firstly, institutional investors' interest in SOL continues to rise, with their holdings reaching a new high not seen in 18 months. Secondly, the activity within the Solana ecosystem has significantly increased, with on-chain activities growing by 32%, and an increasing number of projects beginning to deploy on Solana. Additionally, the Asian market plays a dominant role in SOL trading, accounting for 47% of the total trading volume, and the continuous inflow of large capital has provided strong support for SOL prices.
From a technical analysis perspective, the performance of SOL is also encouraging. The MACD indicator has formed a golden cross, and the upper Bollinger Band has broken out, releasing a clear bullish signal. Currently, the long-to-short ratio stands at 5.8:1, reflecting strong confidence in SOL's prospects in the market.
Looking ahead, the short-term resistance level for SOL may appear in the range of $195 to $200. If it can break through smoothly, it is expected to advance towards the range of $215 to $220. However, it is worth noting that achieving this goal still requires support from trading volume.
Overall, Solana is currently showing strong upward momentum, with multiple favorable factors combining to lay a solid foundation for its future development. However, investors still need to closely monitor market changes and rationally consider the potential risks and opportunities of digital assets.