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Solana Sees Spike in Positive Sentiment as Price Consolidates Below Resistance

Solana Sees Spike in Positive Sentiment as Price Consolidates Below Resistance

Solana (SOL) continues to draw heightened attention across crypto communities amid rising institutional interest and a surge in social engagement. The blockchain is the second-largest total value locked (TVL), estimated at $6.8 billion.

According to Santiment, positive to negative social sentiment around SOL has reached a rare 18-to-1, highlighting growing investor enthusiasm. This trend appears to be driven by notable developments such as BlackRock’s integration of its tokenized BUIDL fund with the Solana network.

Sol

Source:@santimentfeed

GameStop-related discussions have also re-emerged within crypto spaces, fueling additional momentum and boosting SOL’s visibility on major platforms. Historically, Santiment data suggests such spikes in sentiment often precede short-term price advances.

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SOL Price Testing Key Technical Levels Amid Mixed Indicators

At the time of writing, Solana is trading around $138.11, posting a modest gain of 0.53 percent within the daily session—the current price hovers near the Bollinger Bands’ middle, indicating ongoing consolidation.

The $130.93 point is a key short-term support factor based on the 20-day Bollinger Band midline. Any attempt for the price to rise through $143.78 will encounter immediate resistance as this value represents the upper Bollinger Band position.

A price move above $143.78 can produce an uptrend toward $160 if the market momentum continues to grow. The asset becomes vulnerable to downward price movement when support levels below $130 fail to hold, and the nearest possible support point appears at $118.08.

The Moving Average Convergence Divergence indicator shows a small bullish crossover as its current signal pattern. Bullish momentum potentially exists early on because the MACD line presently shows -4.22 while sitting near the signal line at -7.44.

Sol

Source: Tradingview

Meanwhile, the trading volume remains moderate at 663.5K, showing neither a strong accumulation phase nor heavy distribution. The Relative Strength Index is not visible on this chart, but price action indicates a neutral to slightly bullish tone.

Conclusion

Solana’s strong social sentiment, backed by institutional developments and a supportive community, is helping sustain price consolidation. Market participants closely watch the $143.78 resistance for signs of a breakout, which could strengthen the ongoing recovery.

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