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The Solana price pumped 5% in the past 24 hours to trade at $199.42 as of 3:49 a.m. EST, with trading volume soaring 92% to $32.3 billion.
The rise in the SOL price comes as Nasdaq-listed firm DeFi Development Corp is now just one token away from crossing $1 million in its Solana treasury after its latest $198 million buy.
In a statement on Monday, DeFi Development Corp said its purchase of 141,383 Solana between July 14 and July 20 had grown its treasury to 999,999 SOL.
1/ 🚨 JUST 1 $SOL TO GO…
That's right, DeFi Dev Corp. now holds 999,999 $SOL on our balance sheet after raising $19M from our Equity Line.
$192M of SOL stacked. Staked. Compounding. Onchain.
Who is ready for us to accumulate the next 1,000,001 $SOL?! pic.twitter.com/K2B6ZxJIId
— DeFi Dev Corp. (@defidevcorp) July 21, 2025
Solana Price Poised For A Breakout Above This Resistance
The SOL price on the daily chart shows a clear and strong bullish trend.
After bottoming out near the 0.618 Fibonacci retracement level around $98, the Solana price has rallied sharply and is currently trading near $199.42.
SOL has recently broken above key resistance levels, including the 200-day Simple Moving Average (SMA) at $163.44 and the 50-day SMA at $155.42, both of which had been acting as resistance levels, according to GeckoTerminal data. This breakout signals a decisive shift in market sentiment.
A short-term rising channel (marked by the dashed trendline) has also formed, indicating sustained higher highs and higher lows, which is a major bullish pattern.
Furthermore, the price of Solana has now tested and is attempting to reclaim the previous local high near $204 (0 Fibonacci retracement level), indicating an effort to establish a new high in the uptrend.
The Relative Strength Index (RSI) stands at 81.14, which is deep into overbought territory. While this supports the current bullish strength, it also signals that the asset may be overextended.
Meanwhile, the Moving Average Convergence Divergence (MACD) histogram is strongly positive, with the blue MACD line (10.30) well above the orange signal line (6.56).
SOL Price Hints At A 26% Surge
The rally from the 0.618 level at $98.41 to nearly reclaiming the local high of $203.95 shows strong retracement completion.
If SOL can hold above the $200 psychological resistance, the next major target is projected in the $252 range, representing a 26% move from the breakout point.
However, risks remains. The RSI is in deep overbought territory, which may indicate that buyers are getting exhausted.
If this happens and selling starts at this level, the 0.236 and 0.382 Fibonacci zones, at $163.64 and $138.74, respectively, will act as the next support.
Meanwhile, opportunistic investors are redirecting their funds to a new ICO crypto called Snorter Token (SNORT). According to Jacob Crypto Bury, a popular YouTuber with over 56.9K subscribers, SNORT could potentially soar 100X, turning $10 into $1,000.
Snorter Token Presale Hits $2.2 Million – Next 100X Crypto?
The Snorter Token presale is generating strong traction, having already crossed the $2.23 million mark in early funding.
Snorter Bot is a full-stack, Telegram-native trading assistant built to help everyday traders snipe high-upside meme coins the moment they launch, with the speed, automation, and protection that until now was only available to whales.
Its advanced algorithms help investors navigate volatile markets, automate risk management, and capitalize on opportunities much faster than they would if trading manually.
The bot is entering a space where most users currently favor Trojan and BonkBot, two bots that have gained prominence on the Solana blockchain for their affordable fees and secure transactions.
However, Snorter Bot beats the competition in terms of fees. By simply holding the SNORT token, traders reduce their execution fees from 1.5% to 0.85%, undercutting other Telegram crypto trading bots.
Went outside. Touched grass. Immediately hated it. Back to the chaos. pic.twitter.com/XgGz1f7cCE
— Snorter (@SnorterToken) May 19, 2025
In addition to its trading features, staking rewards currently sit at 184%, but this decreases as more investors join the ICO.
The presale is now live, and the token is selling at $0.0989. You can buy tokens with SOL, ETH, BNB, or bank card, and stake them directly on the official site.
Interested investors will want to buy before the next presale price hike in less than 23 hours.
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