Solana Price Eyes Breakout as Real-World Asset Inflows Soar
Solana's price is currently trading at $76 inside a tightening symmetric triangle on its chart. The technical analysis suggests that the price may breakout from this pattern in the first half of September, which could lead to a significant move upwards.
The bullish case for Solana targets a price of $83.75 at the 0.618 Fibonacci level. However, if the triangle breaks lower instead, the bearish case points to a price of $69.17 at the 0.236 Fibonacci level.
Solana has been leading in real-world asset (RWA) inflows over the past 30 days, with $254 million in net inflows. This is more than any other blockchain, while Ethereum, BNB Chain, and Provenance all posted outflows.
The decentralized exchange (DEX) volume on Solana has also been high, reaching $45.6 billion over the past 30 days. This is more than any other blockchain, including BNB Chain's $38 billion.