Content Writer
Harvey Hunter
Content Writer
Harvey Hunter
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Solana appears to be among the trades of choice amid a fresh wave of retail liquidity, surging 8% with 4.4 billion in volume as bullishness builds for the Solana price outlook.
The altcoin has gained 12% since the weekend in what now appears to be a lasting reversal, and a potential continuation of its mid-July bull run.
These gains follow news that Trump signed an executive order granting crypto assets access to the $9 trillion 401(k) investment market, with Solana likely to see adoption.
Speculators now anticipate up to three U.S. interest rate cuts before year-end, starting as early as September, with the potential to stimulate new inflows into risk assets like cryptocurrencies.
Solana Price Analysis: Can Solana Overtake Ethereum?
The Solana price appears to have shaken off its downtrend, breaking out of the descending channel that defined its recent fall.
Post-breakout momentum, however, has started to stall, with resistance emerging at $180 as key indicators flash early warning signs.
The RSI has reversed sharply after touching the overbought threshold at 70, often signaling buyer exhaustion before a corrective pullback.
The MACD tells a similar story, flattening above the signal line, often an early sign of a short-term reversal on the 4-hour chart.
A retest of the channel’s upper resistance trendline as support, in line with the $175 resistance, could be the next step to find more level footing for continued upside.
From there, the Solana price can reattempt a breakout from a 7-month head and shoulder pattern.
Its neckline rests at $186, the key threshold for a move toward its previous all-time high at $297, representing a potential 75% gain from current prices.
While still far from the 5x needed to challenge ETH, fundamentals create a compelling argument.
While Ethereum has already tapped into TradFi markets through its approved spot ETF, Solana is still awaiting the SEC’s green light.
The October 10 deadline for a potential spot SOL ETF, combined with possible 401(k) adoption and rate cuts as fuel for interest, could open the floodgates for massive TradFi demand.
The Solana Ecosystem Holds Higher Gain Opportunities
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