Chart Structure, Fresh USDC, and $150 Zone Keep Solana in Bullish Focus
Solana’s price action remains in a bullish trajectory as its channel structure continues to hold firm, with consistent support found near the $148-$150 range. Circle’s recent minting of $2.75 billion in USDC on the Solana network, without any redemptions, highlights a strong deployment of liquidity. This influx of capital, combined with a clean chart structure, reinforces Solana’s solid technical position.
Channel Structure Keeps Momentum Despite Pullbacks
Solana is maintaining an upward trend, forming higher lows within an expanding parallel channel on the 4-hour chart. Despite minor pullbacks, the price remains above key support levels such as $126, $138, $147, and the crucial $150 mark. Traders are closely monitoring the $148-$150 zone, which has historically served as a bounce area during corrections, indicating a robust trend.
Analysts interpret the lower trendline interactions as a sign of strength rather than weakness, emphasizing the systematic nature of Solana’s price movements. The coin’s ability to uphold its structure through precise trading patterns underscores the current bullish momentum.
Circle’s Mints Fuel Fresh Liquidity on Solana
Crypto Patel reports that Circle has minted $250 million in USDC on Solana multiple times, totaling $2.75 billion in inflows over two months. These consistent injections of capital, with no redemptions, underscore a significant influx of funds into Solana’s DeFi ecosystem. The ongoing minting activities are reshaping the network’s liquidity landscape and raising questions about the sustainability of this growth.
The substantial issuance of USDC prompts discussions on Solana’s support levels and the implications of rising stablecoin velocity on the network. As Solana continues to attract liquidity from major minting events, the alignment of technical strength and capital inflows keeps the spotlight on the coin. Unless there are structural changes or a pause in inflows, the market sentiment remains bullish.
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