6.3% Rally Fueled by DeFi Demand and Volume

The cryptocurrency market continues to respond to broader economic factors as Solana demonstrates resilience amid global trade uncertainties. SOL’s price action formed a clear uptrend with higher lows and higher highs, breaking through key resistance levels with institutional-grade volume suggesting accumulation despite a brief 1.35% correction in recent hours. Meanwhile, analysts point to the $166.82 level as a crucial short-term pivot, with potential for significant upward movement if SOL can maintain momentum above $177 resistance.

Technical Analysis Highlights

• SOL climbed from a low of $159.69 to a high of $173.03, representing a significant range of $13.34 (8.35%).
• Price action formed a clear uptrend with higher lows and higher highs, breaking through key resistance at $166.87.
• Above-average volume was observed around the $167-$170 zone, indicating strong buyer interest.
• Notable support established at $160.34, where buyers stepped in with conviction during early hours.
• Final four hours showed accelerated momentum with volume spikes exceeding the 24-hour average, suggesting institutional accumulation.
• A brief downward correction occurred in the last 60 minutes, falling from $172.19 to $169.87 (1.35% decline).
• The $170.00 psychological level briefly acted as support before failing.
• Final 30 minutes showed decreasing volatility and volume, potentially indicating exhaustion of selling pressure.

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