Solana (SOL) climbed almost 7% in the last 24 hours breaking past the $190 price mark for the first time since February 16, 2025.
The momentum is a continuation of a general upward trend observed in recent weeks, as the cryptocurrency is up 13.5% in the past week and 34.5% in the past month.
At press time, SOL was trading at $191.05, with a 69.71% increase in daily trading volume, which now sits at $7.89 billion.
Likewise, the network’s market capitalization has managed to exceed $102.79 billion according to CoinMarketCap, allowing Solana to surpass the likes of Intel (NASDAQ: INTC) in global market worth rankings.
Is a new Solana ATH possible?
As Solana regains strength, analysts are debating whether a new all-time high (ATH) is possible.
Market analyst Satoshi Flipper, for instance, who accurately predicted the jump to $190 on July 17, believes the new price could propel SOL closer to the $280 mark.
The market optimism is largely due to the July 14 debut of the REX-Osprey Solana ETF (exchange-traded fund), which saw $33 million in first-day volume.
In addition, betting markets are now hyping up a potential U.S. spot Solana ETF approval, with traders on Polymarket giving it a >99% chance of happening by July 31.
Institutional demand is also on the rise. DeFi Development Corp, for example, purchased 153,225 SOL (worth $23.7 million) on July 10, while Upexi Inc. disclosed $273 million in SOL holdings.
From a technical standpoint, the coin is also showing signs of sustained upward momentum. Namely, its relative strength index (RSI) has reached 72.9, elevated but not extreme levels, while the moving average convergence divergence (MACD) histogram sits at +2.46, confirming bullish predictions.
Featured image via Shutterstock
