Price predictions for SOL are varied, with support identified at $117 and resistance at $154, while a pattern of higher lows on the 4-hour chart hints at possible upward movement.

Looking ahead, the future of Solana appears promising, with analysts suggesting it could reach $300 depending on market sentiment, regulatory developments, and continued network growth.

Solana has achieved a remarkable milestone in network adoption, with over 11 million addresses now holding SOL, solidifying its status as a significant player in the cryptocurrency market.

In a notable shift, more than $72 million in assets have transitioned from Ethereum to Solana, contributing to a surge in weekly active addresses, which now stand at 17 million compared to Ethereum's 1.8 million.

Institutional interest in Solana is on the rise, evidenced by the recent launch of two Solana futures ETFs, SOLZ and SOLT, on Nasdaq, while applications for spot Solana ETFs from major asset managers are pending SEC approval.

Technical indicators show a mixed outlook for Solana; the Relative Strength Index (RSI) indicates neutral momentum at 42.9, while the Moving Average Convergence Divergence (MACD) suggests a potential breakout despite some weakness in the derivatives market.

Currently ranked as the 8th largest cryptocurrency, Solana's price has reached $131.56, reflecting a 2.31% increase in the last 24 hours, bolstered by renewed accumulation from Binance.

The total value locked (TVL) in Solana's decentralized finance (DeFi) ecosystem has climbed to 54.87 million SOL, marking its highest level since June 2022.