Solana Holds Firm at $103 Amid $348M RWA Inflows
Solana has maintained its position near $103 after a recent recovery above the $98 support level, showing resilience in a market that's consolidating.
Analysts suggest the current trading activity is within a corrective phase, not indicating a new upward trend.
A technical analyst described Solana's price movement as a Wave 4 correction under Elliott Wave analysis, which often involves complex consolidation with several overlapping three-wave structures.
The analyst expects Solana to see a short-term B-wave bounce above its September peak before the correction potentially continues with a C-wave decline.
Solana has attracted $348 million in net real-world asset inflows over the past month, outpacing other leading blockchain networks in this sector.