Solana ($SOL) is showing signs of bullish momentum, as the TD Sequential indicator recently flashed a buy signal. This technical signal indicates that the cryptocurrency may continue to rise if key support levels are maintained.
The live Solana price today is $130.64 with a 24-hour trading volume of $3.611B. Solana is down 3.07% in the last 24 hours.
Solana’s TD Sequential Buy Signal
The TD Sequential indicator is a widely used tool among traders to predict potential price movements. According to Ali Charts, the recent buy signal on Solana indicates that there is a possibility of upward momentum. The buy signal suggests that Solana could experience a price increase if it holds above the critical $130 support level. If this support holds, the price might rise to $140 in the near future.
The TD Sequential signal is often considered a strong indicator, but traders are cautious and monitor how the price behaves at these levels. As Solana's price remains volatile, any price drop below the $130 support could indicate a shift in trend. Therefore, market participants are staying vigilant as they await confirmation of further price action.
Solana's Staking Growth and Market Activity
Solana has been gaining traction with its staking program, with over 70% of the total $SOL supply now staked. Based on CryptoCurb, this significant increase in staked Solana, amounting to approximately $60 billion, suggests that confidence in the network is growing. The rise in staking shows that many investors believe in the long-term potential of Solana.
The growing staking activity has had a positive effect on the Solana ecosystem. With more tokens staked, the network becomes more secure, which could further encourage adoption. The increased staked supply creates a positive outlook for the coin, as stakers will likely keep their tokens locked up, reducing the circulating supply.
Solana’s Native Stablecoins and Ecosystem Growth
In addition, the Solana ecosystem is evolving, with native stablecoins gaining traction. A year ago, USDC and USDT dominated Solana's stablecoin market. The native stablecoins now account for 20% of the market share, with Solana's largest native stablecoin, USX, seeing substantial growth. Solsticefi reports that USX now holds a total value locked (TVL) of over $300 million, showcasing its growing influence in the Solana ecosystem.
The rise of native stablecoins like USX reflects Solana’s efforts to build a more self-sustaining and decentralized ecosystem. These stablecoins are being adopted by users, helping to grow the broader DeFi landscape on the network. With this trend in place, Solana’s ecosystem looks set to continue expanding and diversifying its offerings.