Remittix (RTX) Price Shows Strong Signs of Breaking Past the $200 mark

Solana's price shows strong signs of breaking past the $200 mark as the Solana network hits a three-month high. Meanwhile, meme coins BONK and WIF are skyrocketing

Solana (SOL) has shown strong signs of breaking past the $200 mark as its network hits a three-month high. The Solana network reached a three-month high in terms of weekly active addresses, exceeding 5.1 million users.

This surge indicates rising activity on the Solana chain, which could translate into further gains for the SOL token.

Solana price is testing a critical resistance level at $179, a zone that has stalled previous attempts at breakout. However, if SOL manages to pierce through this barrier decisively, technical models anticipate a continuation toward $219.

A breakout from the ascending parallel channel on the daily price chart could propel Solana toward $219.

Source: TradingView via FxLeaders

If SOL breaks above the parallel channel's upper boundary, technical models suggest a continuation toward $219. A decisive move above this channel, which has contained price action since March, could propel the token toward the Fib 1.272 level at $219.

Moreover, an analysis of global liquidity trends aligns with the potential for further gains in SOL.

Liquidity measures the total amount of money flowing through financial markets, and it plays a key role in asset pricing. When there is plenty of liquidity, investors can easily enter and exit positions, leading to smoother price movements.

According to analysts from curb.sol, SOL tends to follow increases in global liquidity. This observation suggests that if current conditions persist, and considering the broader cryptocurrency market trends, we might eventually see SOL test the Fib 2.0 level at around $400.

However, it's important to note that global liquidity is a complex factor, and there are other technical and fundamental indicators to keep in mind when making investment decisions.

Brazil’s B3 exchange to launch Solana futures in mid-June

Brazil's B3 crypto exchange will introduce futures contracts for Solana (SOL) in mid-June, a move that could bring professional market depth to the token.

B3, the South American nation's main bourse, is recognized as a professional-grade crypto exchange, in contrast to retail-focused platforms.

The addition of Solana futures to B3's instruments portfolio follows a period of rapid growth for the token, driven by interest in decentralized finance (DeFi) projects on the Solana blockchain.

Meanwhile, the U.S. Securities and Exchange Commission (SEC) is currently reviewing applications for a Solana spot ETF. Such a product could attract significant institutional capital to the token.

Solana price analysis: A look at three derivatives charts

Solana price has shown impressive resilience in recent times, recovering from a March downturn to post strong gains.

Now, as Solana price approaches a crucial resistance level at $179, analysts at FxStreet identify three key factors that could influence the token’s next move.

Solana price is testing the upper boundary of an ascending parallel channel on the daily chart. A breakout from this channel could pave the way for a continuation toward $219, the Fib 1.272 level.

A decisive move above the channel, which has contained price action since March, could propel Solana toward $219. However, a clear break below the channel's lower boundary could negate this bullish scenario and open the door for a drop toward $150, the Fib 0.382 level.

Solana price has been closely following increases in global total liquidity, a broad measure of money flow in the market.

According to analysts from curb.sol, Solana price tends to lag behind changes in global total liquidity by about two to three months.

This observation suggests that if we continue to see rises in global total liquidity from here, and considering the broader cryptocurrency market trends, we might eventually see Solana price testing the Fib 2.0 level.

However, it’s worth noting that global total liquidity is a complex factor, and there are other technical and fundamental indicators to keep in mind when making investment decisions.

Solana price is showing signs of strong support above the $150 zone, a level that has seen buyers return on multiple occasions.

A drop below this zone could open the door for further weakness toward $120, the Fib 0.236 level.

Moreover, a move below $150 could also cancel the broader ascending parallel channel from March, signaling a potential shift in technical trends.

Despite the recent surge in Solana price, there is still room for further gains, especially if we see a breakout above the Fib 1.272 level at $219.

From there, the next Fibonacci resistance is located at $269, the Fib 1.618 level, which could be reached if buyers manage to maintain control above the Fib 1.272 level.