What is the reason for SOL's recent surge? Can the price break through the resistance point of 151?

Don't worry, this article will analyze it for you!

The driving force comes from the fact that VanEck, a well-known American asset management company, submitted a trust application for Solana to the regulator.

Although this application is not equivalent to an exchange-traded fund (ETF), it symbolizes that Wall Street financial institutions are opening the door for traditional investment funds to purchase SOL assets.

In addition, it is worth mentioning that just this month, the Solana Foundation actively held two face-to-face communication activities in Tokyo, Japan, and specially invited many local traditional investors and corporate group representatives.

This series of measures highlights the Solana team's unremitting promotion, aimed at encouraging more traditional funds to flow into the SOL market.

Technical dynamic analysis:

From the candlestick chart, SOL is in a downward trend.

Market dynamic discussion:

SOL's price recovery ability reveals that it has a solid community foundation and growing user acceptance behind it. The market is divided on the prospects of SOL. Some observers are optimistic about its growth potential, while others call on investors to remain cautious.

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