Solana (SOL) draws attention with its impressive rise in recent weeks. Although the cryptocurrency is approaching a critical resistance level, investors’ optimism continues. The increase in Tether’s USDT supply and meme coin interest also support this rise. Technical analysis shows that Solana may enter a major expansion phase.
Tether’s $2 Billion USDT Affects Supply
Tether’s movements in the cryptocurrency market are carefully monitored. The company printed $2 billion worth of USDT in the last 24 hours and directed all of it to the exchanges. Stablecoins meeting the demand increases the purchasing power of investors. This move reflects a strategy Tether has used in previous bull markets. This transaction, which is carried out especially to meet the demands of retail and institutional investors, increases liquidity in the market.
Following this move, an optimistic atmosphere prevailed in the markets. Investors think that Tether’s supply increase will support the price increase in Solana and other cryptocurrencies. On social media, investors express their expectations by saying, “The printing of USDT may be a harbinger of the rise.”
Technical Analysis and Price Targets
Solana’s technical outlook indicates that the uptrend may continue. The asset broke a key resistance level after consolidating in the $145-240 range for a long time. Analysts state that this breakout occurred with high volume and created a strong bull signal.
According to Elliot Wave Theory, Solana has entered the third wave of expansion. This wave may gradually push the price of the asset to the $325, $650, and $1946 levels. The last of these targets represents an 810% increase from the current price. However, analysts also emphasize that Solana may find support at the $240 and $145 levels.
Cryptocurrency, Ethereum in decentralized exchange (DEX) trading volume 
$3,107He left behind. This development shows that Solana has increased its dominance in the market. Analysts predict that Solana could approach its all-time high in this bull cycle.
Solana’s Rise May Continue
Tether’s provision of liquidity to the markets and Solana’s technical outlook make investors hopeful. Solana’s performance has made it one of the best performers among the top 10 cryptocurrencies. In this process, market conditions should be monitored carefully. Investors should act by taking into account the rapidly changing market dynamics.
Solana’s growth in the cryptocurrency market could open up new opportunities. Technical analysis continues to support Solana’s upside potential, along with the influence of major players in the market. However, it should not be forgotten that caution should be exercised in investment decisions.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
