Solana (SOL) Price Surge Today: Can It Break $120 or Is a Pullback Coming?

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Solana (SOL) Price Surge Today: Can It Break $120 or Is a Pullback Coming?
Table Of Contents
  1. Solana Price Recovers Sharply – What’s Driving the Momentum?
  2. 3 Key Reasons Why Solana Price Is Up Today
  3. Solana Price Prediction: Will SOL Hit $120?
  4. Final Thoughts: Is Solana Back on Track?

Solana Price Recovers Sharply – What’s Driving the Momentum?

After weeks of volatility, Solana (SOL) is showing signs of a strong comeback. As of the latest data from CoinMarketCap, SOL is trading around $107.90, marking a 6.84% gain in the last 24 hours. This short-term jump comes after a 16.63% weekly loss and a 22.49% drop over the past month.

So, what’s behind this sudden reversal? Let’s break down the key catalysts that are pushing SOL higher—and whether this rally can continue.

3 Key Reasons Why Solana Price Is Up Today

1. Market Rebound After “Fake Tariff News” Correction

Much of the recent crypto market turbulence was triggered by a false social media report suggesting that former U.S. President Donald Trump was considering a 90-day tariff pause—excluding China. The claim, initially linked to economist Kevin Hassett, was later debunked by the White House as misinformation.

Although this news wasn’t crypto-specific, it rattled broader market sentiment. Once the confusion cleared and the news was clarified, investor confidence rebounded—helping SOL and other altcoins recover lost ground.

2. $2.9 Billion in Solana Network Activity and New Investment Plans

One of the biggest boosts to Solana’s momentum came from fresh institutional interest. Janover Inc., a fintech company, announced a new strategy to invest in crypto assets, naming Solana as a core component of the plan. The company is raising $42 million to support this initiative.

At the same time, Solana’s decentralized exchanges processed over $2.9 billion in trading volume, making it the second-largest chain after Ethereum. This surge in activity shows growing adoption and trust in the network.

3. GMGN Stakes $60 Million in SOL to Strengthen the Ecosystem

A company called GMGN took a bold step by staking $60 million worth of SOL, all generated from network revenue. According to co-founder Haze, not a single token was sold—every coin was staked back into the network.

This move is seen as a strong vote of confidence in Solana’s long-term vision. It also supports network security and speed, helping attract more users and developers.

Solana Price Prediction: Will SOL Hit $120?

Looking at the SOL/USD chart on TradingView, the price dropped from $118 to a low near $96 but has since recovered to the $107 range.

  • Support Level: Around $104, where buyers have consistently stepped in
  • Resistance Level: Near $112, where previous attempts to break higher have been blocked

If Solana breaks above the $112 resistance with strong volume, it could aim for $118 to $120 in the short term. However, failure to hold the $104 support could lead to a retracement back toward $98 or even $96.

Analyst Sentiment

Market analysts are cautiously optimistic. Many believe that if the current buying pressure continues, SOL could revisit the $120 mark soon, especially if broader crypto sentiment remains positive.

Final Thoughts: Is Solana Back on Track?

Solana is showing signs of renewed strength after a sharp correction. Backed by heavy network activity, solid staking support, and fresh institutional investment, it seems the fundamentals are aligning for a rebound.

However, traders should watch key price levels closely. A confirmed breakout above $112 could pave the way for a move higher, while a dip below $104 might signal another pullback.

Bottom line: Solana’s recovery looks promising—but the next few days will be critical in deciding whether this bounce is sustainable or just another temporary rally.

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