Journalist
Posted:
- SOL prices held firm above the $190 demand zone as it eyes $225 and $260 as potential targets.
- Deutsche Bank-backed Taurus integrates Solana for enterprise-grade custody and tokenization.
At press time, Solana [SOL] was holding firm above the critical $190 demand zone, positioning the altcoin for a potential rally toward $225 or even $260.
Technical indicators and growing institutional adoption are fueling bullish sentiment.
With Deutsche Bank-backed Taurus integrating Solana for enterprise-grade custody and tokenization according to its latest tweet, confidence in the ecosystem is growing.
Could this fuel SOL’s next major price surge?
Technical sentiments lean bullish
SOL’s price action was supported by a confluence of technical factors. The altcoin was holding strong above a critical demand zone around $190, which has previously acted as a springboard for upward trends.
At the same time, SOL was consolidating in a flag pattern, with prices bouncing off from the flag support around $190. The confluence of support zones cements $190 as a key level for SOL’s next trajectory.
If SOL’s bullish momentum persists, it could target the next resistance level at $225.
A sustained rally beyond this price level could push its price further to test the $260 resistance level, especially if buying pressure intensifies.
The $190 level has proved to be a strong support zone, and its defense by bulls indicates a solid foundation for further gains.
Source: TradingView
Institutional backing strengthens SOL’s case
Supporting SOL’s bullish case is the recent integration of Solana by Taurus, a Deutsche Bank-backed institutional-grade custody and tokenization platform. This partnership is a milestone for Solana, as it brings institutional-grade infrastructure to the network.
Taurus will enable users to securely custody and stake SOL-native assets, issue programmable tokenized assets at scale and leverage Solana’s high-speed infrastructure.
This development not only adds to the legitimacy of Solana but also offers the potential for institutional adoption, which could drive SOL demand in the long term.
Can Solana reach $260?
The combination of technical and fundamental indicators creates a strong foundation for SOL’s upward trajectory. The flag pattern, coupled with the significant $190 demand zone, cements a bullish signal for SOL’s potential rally.
If the altcoin maintains its bullish momentum and capitalizes on growing institutional interest, the $225 and $260 target price levels appear well within reach.
