Solana has undergone a massive transformation from its post-FTX collapse lows to its current trading range around $143 to $148.
In typical Solana fashion, it's decided to come back from the dead and remind everyone that it's not just a blockchain that occasionally breaks down, but a blockchain that can break down AND make money. The network's resilience has been on display, as it’s been developing a bullish "rounding bottom" pattern, which, if you squint hard enough, looks like a sign that higher prices are on the way.
Of course, Solana's speed and low fees have remained its calling card, with transaction times so fast that you won't even have time to doubt if the network is going to crash again. The blockchain has been slowly shaking off its reputation for those notorious outages, much to the relief of investors and developers. But the current price movement suggests that SOL is in the midst of a consolidation phase, with its fan base cautiously optimistic about a possible breakout above $160.
That optimism is tempered by the fact that SOL is still haunted by the specter of past failures, so everyone's fingers are crossed, hoping it doesn't pull a network outage just when things start looking good again.
In terms of sentiment, people are kind of into Solana again — at least when compared to the post-FTX slump where it looked like it might have to file a "Help, I've Fallen and Can't Get Up" alert. Now, with institutional investors starting to take notice, things are looking up. But there's still a sense that, while Solana is fast, it better keep running, or newer networks like TON might steal its lunch.
So, while Solana's price has recovered nicely and the chart patterns look promising, there's a lingering feeling that it might still have some baggage. It's fast, it's cheap, and it's mostly functional these days. But everyone’s still watching for the next glitch.
