Key Points
- Over the past 24 hours SOL has risen 2.5% and is now trading above $190.
- The coin could reach $220 ahead of the Accelerate APAC event.
SOL Surpasses $190 as Market Momentum Turns Bullish
SOL, the native token of the Solana blockchain, is following the broader market trend and trading in positive territory. Over the last 24 hours the token gained roughly 2.5% and is currently trading above $190 per coin.
The recovery has been supported by rising trading volumes, which have climbed to levels not seen since January. Volume picked up ahead of the upcoming Accelerate APAC event on Friday, an occasion that could highlight important developments within the Solana ecosystem.
The Accelerate Asia Pacific Accreditation Cooperation event, starting Friday in China, will underscore Solana’s growing role in the region’s decentralized physical infrastructure networks (DePIN) landscape.
Traders and investors have grown more optimistic that the event may provide upward impetus for SOL’s price. On Saturday, on-chain exchange-traded volume for SOL reached approximately $220 million—the highest level recorded since mid-January. The surge in volume suggests expanding interest from market participants who view the token as positioned for further gains in the near term.
SOL Eyes $220 as Bullish Momentum Returns
The 4-hour SOL/USD chart had been biased toward bears, but momentum indicators are gradually shifting bullish. Over the past day SOL added more than 2.5% after sliding about 13% last week when it encountered resistance around the 50-period exponential moving average (50 EMA) near $206.09.
At the time of publishing, SOL is trading around $193 and may attempt another test of the 50 EMA soon. The 4-hour relative strength index (RSI) stands near 56, tilting toward overbought territory and signaling early signs of bullish momentum.
For a sustained recovery, RSI should remain above the neutral level, allowing SOL to build on its gains. If bullish momentum holds, the token could advance toward the $220 target in the coming days.
Conversely, if SOL fails to maintain upward momentum and faces renewed selling pressure, it could retreat to a key support level near $186.