Solana Price Holds Above Crucial Support Level as Network Activity Surges
Solana's price has shown signs of recovery as buyers defend a key support area. Analyst Bitcoin Meraklisi identified $117 as a crucial level, and if buyers maintain control, another upward move is expected with $143 as the next target.
The token's recent price action has lifted it significantly from its September 16 low near $96.87, reaching approximately $120.81 on September 25. This represents a roughly 24% increase from that monthly low.
The recovery is also supported by stronger market participation, rising demand for Solana-based investment products, and growing stablecoin liquidity on the network. The network's official account reported a new all-time high of $17.3 billion in stablecoin supply, while U.S. spot Solana ETFs recorded their largest single-day inflow on record with $80 million in net inflows.