Solana (SOL) is once again in the spotlight as it trades near a crucial breakout level, buoyed by robust technical setups and a historic on-chain fundraising event that showcased the blockchain’s scalability and investor enthusiasm.
According to on-chain data and analysts, Solana’s daily chart shows a symmetrical triangle pattern, a structure that typically precedes significant price moves. With SOL trading just below the upper resistance, traders are watching for a decisive breakout that could propel the price into the $375 to $400 range — a level that aligns with Solana’s historical highs and strong resistance zones.
Pump.fun ICO Highlights Solana’s On-Chain Strength
Adding fuel to Solana’s bullish narrative, the Pump.fun ICO became one of the network’s standout moments. In a post shared by Solana’s official channels, the decentralized campaign raised a staggering $600 million in just 12 minutes, with the entire capital formation happening on-chain.
Remarkably, this record fundraising occurred while Wall Street remained closed, proving blockchain’s 24/7 advantage over traditional financial rails. More than 10,000 unique wallets took part in the ICO, according to Blockworks Research, highlighting Solana’s grassroots appeal.
Notably, 75.2% of the funds were raised directly on the Solana blockchain. The average contribution of $539 signaled broad retail participation, while only a slim share of wallets contributed more than $100,000 — a stark contrast to conventional VC funding rounds.
Institutional Inflows Add Fuel to Breakout Hopes
The fundamentals backing Solana’s price momentum continue to strengthen. Recent analysis shows institutional inflows into SOL have hit $78 million, signaling rising conviction among bigger players. On-chain metrics add to the optimism. Solana’s active addresses climbed near 16 million daily, with steady netflows reflecting confidence from both retail and institutional investors.
With the symmetrical triangle’s peak approaching and a supportive macro backdrop, traders believe a confirmed breakout above resistance could unlock an aggressive move toward the $375–$400 target zone.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your research before making any investment decisions.
