Solana News Today: Solana Surges 5.8% to $190.74 on 76.5% Volume Spike

Solana (SOL) has seen a significant price surge, currently trading at $190.74 after a 5.8% gain in the past 24 hours. This upward momentum is accompanied by a substantial increase in trading volume, which has surged by 76.5% to reach $8.89 billion. The recent weekly close above the $179.07 level has established a new support zone, indicating a shift in market sentiment and buyer strength.

The $179.07 level, which previously acted as resistance, has now been flipped to support following the recent price action. This level is crucial as it aligns with a multi-week consolidation range that has attracted significant volume in the past. Buyers are now focused on maintaining prices above this support level while targeting higher resistance zones.

Immediate resistance for SOL is now at $191.84, a level that aligns with previous weekly highs. As the price approaches this threshold, market behavior continues to reflect strength, driven by increased capital inflow and consistent demand near recent lows. The next support level lies well below the current price at $147.87, which last acted as a structural pivot during early July.

With a current market capitalization of $102.68 billion, SOL ranks among the highest-cap crypto assets. The price is steadily approaching the previous resistance of $191.84, which is the immediate obstacle to further price increases. The 24-hour price range has been between $179.07 and $191.84, with volatility maintained within known boundaries.

Technical levels offer a conceptual model for short-term direction, given the high volume. SOL’s ability to sustain above $179 will be crucial while testing the resistance at $191.84. The current chart structure presents a defined range with support and resistance clearly established, providing a clear roadmap for traders and investors.