The price of Solana (SOL) is showing impressive technical resilience. After reclaiming the psychological level of $90, the market is closely watching $92.30 as the key resistance to unleash a rally toward $100 before March closes.
Why is it rising today?
1. Regulatory Clarity: It has just been reported that the SEC and CFTC have moved forward in classifying SOL as a digital commodity. This removes legal uncertainty and opens the door wide for institutional staking ETFs.
2. Massive liquidity injection: Just a few hours ago, Circle issued 250 million USDC directly on the Solana network. This is pure fuel for the DeFi ecosystem and RWAs (Real World Assets).
3. Firedancer milestone: The network already has more than 20% of its validators operating under the new client, bringing us closer to the promise of 1 million TPS.
Critical Levels:
• Support: $86.60 (If it loses this, we could see $80).
• Resistance: $92.80 (Breaking this point with volume is the buy signal many are waiting for).
My opinion: On-chain data doesn’t lie. With institutions like Western Union and JPMorgan already using Solana's infrastructure for tokenized assets, fundamental value is surpassing speculation.
Do you think SOL will break $100 this week or will we see a rejection at the current resistance? 📉📈$SOL
