SOL has a market capitalization of $42.71 billion, as of today, while the total crypto market capitalization stands at $2.04 trillion. Celebrity-linked meme coin launches on Solana are drawing attention again after new tokens reached multimillion-dollar market capitalizations.
SOL is outperforming the broader crypto market, posting 7% gains amid a rise in network usage. SOL is expanding its public-market Solana strategy into Central Asia through a new partnership with Alatau City, Kazakhstan’s planned technology and digital finance hub.
On the daily chart, Solana is currently trading around $73.34. While the broader crypto market has witnessed a sell-off, SOL has gained due to increased network token usage over the past few days. However, the chart still suggests resistance at higher levels.
Technical Chart of SOL
On the daily chart, SOL is trading between its 14-period and 21-period Simple Moving Averages (SMAs) at $72.35 and $74.09, respectively, with these levels likely to act as resistance.
On the daily chart, the Relative Strength Index (RSI) is at 52.03, while the Stochastic Oscillator is at 88.15, indicating an overbought zone. The RSI remains slightly above the positive zone. Market sentiment appears weak, and minor profit booking is likely in the coming sessions.
Also Read: Understanding Dividend Tokens
Support and Resistance Levels
| Support 2 | Support 1 | Asset (Price) | Resistance 1 | Resistance 2 |
| $62.34 | $67.98 | SOL ($73.34) | $78.97 | $84.23 |
Above $84.23, there’s a possibility of hitting the $89 levels.
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