Solana Price Breaks Downtrend Amid Institutional Interest Surge

Solana's price has broken out of its month-long downtrend, surging above $75 before facing resistance near $78.

The key support zone around $72, aligned with the 50% Fibonacci retracement, is crucial for bulls to defend to maintain upward momentum.

Institutional interest in Solana has surged, with smart money increasing by 42%, and U.S. Spot SOL ETFs seeing $8.8M in net inflows, signaling strong demand.

However, macroeconomic risks like U.S. inflation data and potential Fed rate hikes remain a concern for Solana's price to continue its upward momentum.