Whales Back $1.65B Solana Treasury With Galaxy & Jump — Could SOL Rally Beyond $300 in Q4?
Big investors channel $1.65 billion into Solana's treasury, supported by Galaxy Digital and Jump Trading. This significant move raises questions about Solana's potential to exceed $300 in the final quarter. The article explores whether SOL is set for a major rally, revealing other coins that might also be poised for growth.
Solana's Potential Surge: Can It Cross the Resistance?
Source: tradingview
Solana is currently trading between around $196 and $215. This reflects steady growth, as its price has risen by over 70% in the last six months. It recently saw a nearly 10% boost within one week. The nearest resistance sits at $223, and if Solana breaks this, it could target the next resistance level at $242. This would mean a growth of about 15% from its current level. Support is firm around $185, offering some security if prices dip. With positive trends, Solana shows potential for more gains, possibly driven by its increasing adoption and strong market interest.
Conclusion
Backing from major players like Galaxy and Jump boosts confidence in the potential of SOL. Their support indicates strong belief in SOL's growth. With the treasury now bolstered, a rally beyond $300 in Q4 seems possible. The significant financial backing highlights the trust in SOL's future. This infusion could catalyze further interest and investment. As Q4 progresses, SOL's performance will be closely watched by market participants. The stage is set for a potentially promising period for SOL.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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