Solana Price Prediction: Institutions are Frenziedly Buying + On-Chain Data Surges, SOL Aiming for a Historical High of $295

Solana (SOL) is experiencing multiple resonances of favourable information, with institutional funds continuously flowing in, on-chain activities hitting new highs, and an increase in bullish bets in the derivation market, pushing the price to break through the upper edge of the parallel channel, with long positions aiming directly at the historical high of 295.83 dollars.

On-chain and derivation data release strong bullish signals

1. On-chain activities and TVL reach a new high

(Source: DefiLlama)

According to DefiLlama data, Solana's total value locked (TVL) reached a historic high of $13.22 billion on Sunday, indicating that the activity level of funds and user participation within the ecosystem continues to rise.

Artemis Terminal data shows that the supply of stablecoins on the Solana network surged by $255 million within 24 hours, leading competitors like Arbitrum (ARB) and Aptos (APT), highlighting the strong inflow of funds.

2. Derivation market sentiment is high

CoinGlass data shows that Solana futures open interest (OI) has reached a historical high of 16.58 billion USD, reflecting that new funds are continuously entering the market.

The long-short ratio rose to 1.08, the highest in over a month, indicating strong bullish sentiment in the market.

Institutional demand becomes the core driver of the pump

Forward Industries completes a $1.65 billion private equity investment (PIPE) deal, led by Galaxy Digital, Jump Crypto, and Multicoin Capital.

Galaxy Digital purchased an additional 1.2 million SOL (approximately $306 million) within 24 hours, totaling nearly 6.5 million SOL (approximately $1.55 billion) since the financing news was announced.

Rex-Osprey SOL + Staking ETF (SSK) recorded an inflow of $15.9 million last week, indicating that the demand for SOL from traditional investment instruments is increasing.

Technical Analysis: long positions targeting 295.83 USD

(Source: Trading View)

Current Price: 242.85 USD

Resistance level: 295.83 USD (historical high)

Support level: 230 USD (daily support)

RSI: 69 (approaching overbought zone, strong momentum)

MACD: Last week showed a bullish crossover, continuing to gain momentum.

SOL has broken through the upper edge of the parallel channel formed since mid-April. If the upward trend continues in the short term, it is expected to challenge the historical high; if there is a pullback, 230 USD will be a key support level.

Conclusion

The current pump of Solana is not driven by a single event, but rather a multiple resonance of on-chain fundamentals, derivation market sentiment, and institutional capital inflows.

Against the backdrop of TVL, stablecoin supply, and OI reaching new highs, SOL is expected to challenge 295 USD in the short term, potentially initiating a new round of historical breakthrough行情. However, traders still need to pay attention to the RSI overbought risk and the gains and losses at the 230 USD support level.