Solana (SOL) price has stayed glued to monthly lows over the past week despite an influx of funds from institutional players reaching up to $700,000.
indicates that user deposits are rising, which, in this case, points to user interest in the Solana blockchain.
Increased buying pressure could send Solana price above the $22.09 resistance level, a formidable hurdle that suppressed SOL for the better part of August. In a highly bullish case, the altcoin could break above to confront the optimistic target of $25.23. A move to the range high of $28.98 could occur in overly ambitious cases.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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