Solana (SOL) emerges strongly after a brief interruption in its network on February 6, consolidating itself as a resilient investment. In the last 24 hours, the cryptocurrency has seen an increase of 7.9%, reaching $104 and surpassing the market capitalization of $45.4 billion. Despite initial fears generated by the roughly 5-hour outage, investors have maintained confidence in SOL, driving its value above $104 and outperforming Bitcoin in the past week. What will be the next chapter in Solana’s fascinating journey?
Solana (SOL) resists and exceeds expectations
Solana’s resilience has been evident in recent months, establishing itself as a magnet for investments with flows of $13.4 million in SOL products, surpassing giants such as Ethereum and Avalanche. Last week, crypto products also saw a notable inflow of $707.8 million, bringing global assets under management to an impressive total of $53 billion.
The volume of the Solana decentralized exchange is not far behind, ranking second after Ethereum. According to DefiLlama data as of February 8, the volume reaches $7.31.53 million, with a Total Value Locked (TVL) of $1.74 billion. These numbers underline the strength and prominence that Solana has achieved in the decentralized finance ecosystem.
Where is Solana (SOL) price headed?
With the current uptrend, analysts suggest that SOL could encounter resistance at the $121.14 mark, triggering a potential rally toward $155.36 and even $187.76. However, as in any market, there is a possibility of a reversal in the trend, taking SOL to support levels at $81.14 and ultimately testing $47.79.
The overall outlook for the cryptocurrency market also reflects optimism, with the total market capitalization seeing an increase of 3.42%, reaching $1.7 trillion. This positive momentum may be an additional catalyst for the continued rise of Solana and other cryptocurrencies in the near term.