{"content":"SOL Eyes $230 🚀 — Institutions and On-Chain Growth Boost Bullish Momentum Green solana trades at $204 on Monday, up over 6% in a week. With increased TVL and SOL trading whale activity, on-chain data is encouraging. Bulls might reach $230 next, according to technical analysis. Solana (SOL) rose more than 6% in the previous week and was trading over $204 on Monday. Growing on-chain activity, institutional interest, and whale engagement indicate increased optimism in the network's future. SOL bulls should drive the price toward $230, according to technical analysis. Solana's on-chain activity seems optimistic. DefiLlama data reveals Solana's Total Value Locked (TVL) rose to $11.83 billion on Monday from $10.42 billion on October 11 and is approaching the record high of $13.22 achieved on September 14. Rising TVL implies increase in SOL ecosystem activity and interest, implying more users are depositing or utilizing assets on SOL protocols. CryptoQuant's summary data shows big whale orders and purchase dominance in SOL's spot and futures markets, suggesting a surge. Traders are also betting more on Solana. Coinglass's SOL long-to-short ratio reached 1.07 on Monday, the highest in a month, indicating optimistic enthusiasm. Growing Solana adoption Apart from bullish on-chain and derivatives data, Solana's ecosystem has seen a wave of positive developments, including Gemini's launch of the first credit card offering up to 4% instant SOL rewards, the opening of Solana's new hub at 35 Wall Street, Fidelity's retail access to SOL, and Hong Kong's approval of its first Solana Spot ETFs, all indicating institutional and mainstream adoption. Solana price forecast: Bulls want $230 Solana climbed 11% over four days after finding support around the rising trendline on Wednesday. On Monday, SOL traded over $204. A daily closing over the 50-day Exponential Moving Average (EMA) at $202.88 might continue the advance to $230, the next daily support. However, a reversal might extend SOL's drop to $189.76, the 50% retracement level. #solana #sol $SOL ","images":["https://d35imkjvkj28kt.cloudfront.net/uploadfile/article/blog/2025102025/10/27/d505d971cf374750a4dd9d304794d28c.png"],"tags":[],"tradingPairs":["SOL/USDT"],"quotearticleid":0}