Solana's liquidity sweep - Upside potential after breaking $200

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Solana (SOL) recently broke through the key level of $200, ushering in a liquidity sweep. After breaking the ascending triangle pattern, SOL quickly surged, breaking through $182 and approaching the liquidity areas of $213 and $230, which will become important support and resistance levels for future price movements.

Liquidity clusters and future trends

If SOL can successfully break through and consolidate above these key ranges, it may rise further. If the price pulls back to these areas, SOL could also receive strong buying support, maintaining the bullish trend.

Bullish momentum and price prediction

After breaking $200, SOL confirmed a sustained bullish trend, with the price reaching $208.69 and nearing the next target of $230. If the bullish momentum continues, SOL is expected to break through these areas, pushing the price further upward.

Solana ETF expectations and market sentiment

Polymarket predicts a 77% chance that the Solana ETF will be approved by 2025. This expectation brings positive sentiment to the market, and if the Solana ETF is approved, SOL's market acceptance and institutional investment inflow are expected to increase significantly, further driving the price upwards.

Market cap and TVL growth

Solana's market cap has surpassed $100 billion, with a total trading volume (TVL) reaching $9 billion, demonstrating its strong influence in the DeFi space. These indicators support Solana's potential for further upside, which may drive its valuation and market position to continue improving.

Conclusion

Solana is at a critical stage of upward movement. If it can break through and maintain above $230, it may see higher market levels. Investors should pay attention to whether Solana can maintain its upward momentum and break through this key resistance level.

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