Solana News Today: Solana Hits 100K TPS in Stress Test Bolstering Bullish Outlook

Solana (SOL) is demonstrating resilience amid market turbulence, with recent developments reinforcing its bullish technical and fundamental outlook. ChatGPT’s analysis of Solana’s performance reveals a current price of $183.75, reflecting a 4.27% pullback from the opening price. Despite this decline, the network recently achieved a historic milestone by processing 100,000 transactions per second during a stress test, a significant validation of its infrastructure capabilities [1]. This achievement aligns with broader market stabilization efforts and highlights Solana’s ability to maintain robust operations even during periods of heightened volatility.

Technical indicators suggest a strong bullish setup for Solana. The Relative Strength Index (RSI) is at 52.36, indicating a neutral to balanced momentum. Moving averages also reinforce this optimism, with the 20-day EMA at $181.76, 50-day EMA at $174.57, 100-day EMA at $168.11, and 200-day EMA at $165.62, all showing Solana trading above these key support levels [1]. The Moving Average Convergence Divergence (MACD) is building positive momentum at a histogram reading of 3.89, despite a slight bearish structure currently below zero. This divergence often signals a potential bullish crossover, suggesting the asset could continue its upward trajectory [1].

Volume activity remains steady at 2.29 million SOL, demonstrating sustained institutional participation even during the correction phase. The Average True Range (ATR) is at a high of 138.62, indicating strong potential for further price movement once a clear direction is established [1]. Solana’s market fundamentals are also robust, with a market capitalization of $99.21 billion and a 2.9% daily increase. Trading volume has surged to $6.14 billion, a 10.82% rise, underscoring active interest from institutional investors [1].

The broader crypto market has experienced significant liquidation events, with over $400 million in leveraged long positions wiped out in the past week. Bitcoin fell below $115,000, and Ethereum retreated from $4,700 to $4,300 [1]. Despite this, Solana has maintained its position above all major EMAs, showcasing exceptional relative strength compared to other leading cryptocurrencies. CoinEx regional director Mal Zane notes that each pullback from all-time highs this year has been progressively smaller, indicating a strengthening market structure [1].

Fundamental developments further support Solana’s growth. The recent launch of the Wyoming stablecoin FRNT on Solana and 1inch’s addition of cross-chain compatibility have expanded the network’s utility [1]. Additionally, the Bullish exchange’s record $1.15 billion IPO, which utilized Solana stablecoins for funding, demonstrates growing institutional adoption and infrastructure reliance [1].

Social sentiment remains overwhelmingly positive, with Solana’s AltRank reaching 1 and a Galaxy Score of 70. Engagement metrics show 22.34 million total engagements and 138.18K mentions, highlighting sustained interest in the network’s achievements [1]. Recent discussions on platforms like Twitter have focused on the 100K TPS validation, meme coin activity, and technical analysis identifying patterns targeting $250+ price levels [1].

Looking ahead, ChatGPT’s SOL analysis suggests three potential price scenarios over the next 90 days. A successful hold above the $174–$181 support range, combined with continued network achievements, could drive Solana toward $200–$220. If the market remains uncertain, consolidation between $174 and $190 is likely, allowing technical indicators to reset while ecosystem development accelerates. In a worst-case scenario, broader market weakness could push Solana toward $168–$174 EMA support levels, representing an 8–10% downside [1].

In summary, Solana’s technical and fundamental metrics, combined with growing institutional adoption and network advancements, support a strong bullish case. A critical price level to watch is the $181 EMA support, which will serve as a key indicator of continued bullish momentum. If this level holds, Solana could see a breakout toward $200 psychological resistance, with further potential for a $220+ move [1].

Source: [1] ChatGPT’s SOL Analysis: 100K Transactions-Per-Second Validates Bullish Case – Is $200 Next? (https://cryptonews.com/news/chatgpts-sol-analysis-100k-tps-validates-sol-bull-case/)