Solana (SOL) is showing renewed strength, trading around $191.84 after climbing roughly 5% in the past 24 hours.
The token briefly hit an intraday high near $195 before consolidating within its wider $170–$200 range, signaling growing momentum ahead of key macroeconomic data.
Network fundamentals outshine competitors
Solana’s network activity continues to impress. Decentralized exchanges (DEXs) built on the blockchain processed more than $4.1 billion in daily volume and an astounding $143 billion over the past month, according to DeFiLlama.
That figure nearly rivals Ethereum’s transaction levels, underscoring how Solana has evolved into one of the most efficient and scalable Layer-1 ecosystems.
This robust activity reinforces Solana’s reputation as a high-performance blockchain, attracting both retail users and institutional participants.
Institutional interest deepens as Fidelity adds SOL
Investor optimism rose sharply after Fidelity Digital Assets reportedly added Solana to its list of supported digital assets.
The move aligns with a broader institutional shift toward diversified crypto exposure, following earlier entries from BlackRock and VanEck into spot ETF markets.
Such developments have boosted confidence that Solana could soon gain mainstream recognition and regulated investment access, enhancing liquidity and long-term stability.
Technical setup signals strength
Prominent crypto trader Henry noted that Solana’s chart is displaying one of the cleanest setups in the current cycle. According to him, “$SOL bounced exactly where it needed to, a perfect touch on trendline support with no hesitation, straight up.”
He added that this kind of trendline retest, often precedes strong impulsive ralliesas buying momentum returns.
Henry described Solana’s structure as “simple and easy to understand,” defined by higher lows, solid demand, and a fresh breakout.
If the momentum holds and market conditions remain steady, he sees the next major target near $220 or above.
CPI data could shape the next move
While Solana’s fundamentals and technicals are strong, the broader crypto market remains sensitive to U.S. inflation data.
Traders are closely monitoring the latest Consumer Price Index (CPI) report from the U.S. Bureau of Labor Statistics, a key gauge that influences monetary-policy expectations and risk-asset performance.
A lower-than-expected CPI print could lift market sentiment by boosting rate-cut expectations, potentially pushing SOL back above $200.
Conversely, a hotter-than-expected inflation reading might weigh on optimism and spark short-term corrections.
SOL’s implied volatility, hovering around 76%, suggests that traders should prepare for sharp price swings as macro data unfolds, with CoinLore’s projections pointing at the $168.36 – $266.96 range.
Solid momentum, but macro still matters
With rising institutional exposure, record-high on-chain activity, and a bullish technical setup, Solana stands out as one of the week’s strongest performers.
Yet, macroeconomic uncertainty, especially surrounding inflation and liquidity trends, continues to steer short-term market direction.
If inflation data favors risk assets, Solana could retest and potentially break past the $200 mark.
Otherwise, investors may see continued range-bound consolidation between $170 and $200 as markets digest broader signals.