Solana Price Prediction: Potential to reach $160 with support from major organizations

The Solana (SOL) price forecast is quite bullish despite its recent failure to clear a key resistance level at $138. A break above this level could be the impetus SOL needs to hit $160, especially with growing institutional interest.

As more investors show confidence in this Altcoin, the possibility of SOL price increase becomes more likely.

Institutions Investing in Solana

Institutional interest in Solana is picking up again, especially after a rather lackluster August. Institutions have invested over $9.7 million in SOL this month, with $3.8 million coming in during the week ending September 13. The strong inflows from institutional investors indicate renewed confidence in Solana ’s long-term potential and could be a strong driver behind its price growth.

The increase in institutional Capital is helping to sustain Solana’s current bullish momentum. If this trend continues, SOL could see further price gains, especially as large investors accumulate the cryptocurrency. Institutional support often brings stability and can be a key factor in driving prices higher.

Additionally, Solana ’s macro momentum appears to be strengthening, as evidenced by the Chaikin Money Flow (CMF) index, which hit a one-and-a-half month high. While net flows were largely negative in early September, the last three days have seen a positive turn, driven largely by increased institutional activity.

This positive change in net inflows suggests that the tables may be turning for Solana. The combination of bullish technical indicators and increased institutional interest creates a favorable environment for further upside, but the challenge remains in maintaining this momentum as SOL approaches higher resistance levels.

SOL Price Forecast : The Battle for Price Increases

Solana is currently trading near $138, and turning this barrier into support could be crucial to push the price towards $155 and $160. While a successful breakout could put SOL in a position to challenge higher levels, continued bullish momentum will be key to sustaining this trend.

Furthermore, while the aforementioned factors suggest that a breakout above $138 is possible, the bullish momentum may weaken before Solana hits $160. This could limit the altcoin’s ability to break above this important level, keeping it within a lower trading range.

However, if Solana fails to break above $138, the bullish outlook will be invalidated. In this case, SOL will likely drop to $124 or $120, facing further bearish pressure.

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