Can Solana Price Break Out To $400 As Capital Floods Into Pump fun ICO
The post Can Solana Price Break Out To $400 As Capital Floods Into Pump fun ICO appeared on BitcoinEthereumNews.com.
Key Insights: A symmetrical triangle on Solana price suggested a potential breakout toward the $375–$400 range. Solana raised $600M in 12 minutes via Pump.fun with no bankers and 10,145 wallets participating. 75.2% of the capital in the Pump.fun ICO was raised directly on the Solana blockchain network. Solana (SOL) price accumulated close to a breakout point, as on-chain metrics improved with a record-breaking fundraising event. Such a technical structure, accompanied by the decentralized approach to fundraising, got the attention of investors and analysts alike, with a target set at $400. Solana Price Symmetrical Triangle and Bullish Setup A long-term symmetrical triangle pattern formed Solana price daily chart. The ongoing altcoin price movement was compressed between converging trendlines, where the peak was approaching. Solana Price 1-Day Chart | Source: X Remarkably, these kinds of formations usually result in powerful directional movements. Solana price had approached the upper and lower limit, whereas previously it was less sensitive to outside catalysts. At the time of analysis, Solana price was trading slightly below the upper resistance of the triangle. Compression of price volatility suggested that, should the SOL breakout get confirmed, it could be the start of a major directional move. Consequently, the projected technical targets of a successful breakout suggested that the $375 to $400 level could be approached. This level coincided with historical resistance-turned-support levels and historical highs. Solana’s Pump.fun Raises $600M Meanwhile, a recent fundraising event on the Solana blockchain through Pump.fun has brought attention back to the network’s efficiency. According to a post from the official Solana account, the campaign raised $600 Million in just 12 minutes. The funding process occurred entirely on-chain, without assistance from traditional financial institutions or market intermediaries. Additionally, this development occurred outside traditional financial hours, while Wall Street was closed. It demonstrated how blockchain platforms…
Filed under: News - @ July 16, 2025 3:25 am