Solana price continued its recovery today, January 12, continuing a trend that started in December when it bottomed at $115. It rose to $142, its highest level since Dec. 4, and its technicals and fundamentals point to a rebound to the psychological level at $200 after receiving praise from WisdomTree, a fund manager with over $147 billion in assets.
WisdomTree Believes that Solana’s Dominance is Structural
Solana has been one of the most dominant chains in the crypto industry in some notable ways. For example, data compiled by Nansen shows that its transactions have soared in the past few months and are much higher than other cryptocurrency projects like Ethereum and BSC Chain.
The data shows that Solana’s network handled over 1.7 billion transactions in the last 30 days, much higher than the next 15 chains combined. For example, Ethereum handled over 53 million transactions, while BSC processed 483 million in the same period.
Blockchain networks ranked by transactionsSolana has also become a major dominant player in the decentralized exchange (DEX) industry, where it handled $118 billion in transactions, higher than BSC’s and Ethereum’s $46 billion and $40 billion, respectively.
Most recently, Solana has become a dominant player in the tokenized stocks industry, where it has continued to gain market share in the past few months. This means that it will likely play an important role in an industry that analysts expect will continue thriving in the future.
WisdomTree, an asset management company with over $247 believes that the network has room to grow in the future. When reflecting on its dominance in 2025, the company called it structural as it led on user base size, developer activity, and on-chain revenue. Additionally, the report noted that Solana had now entered a new phase, where it is providing core digital market infrastructure.
This growth will likely accelerate later this year when the developers will launch the Alpenglow upgrade, which will boost its throughput and change its architecture for the better.
Solana Price Technical Analysis Suggests a Surge to $200 is Possible
The 12-hour chart shows that the SOL price has bottomed in the past few weeks and is now in a strong uptrend. It has already flipped the Supertrend indicator from green to red, which is a highly bullish sign.
Solana price has also jumped above the 50-period Exponential Moving Average (EMA), while most altcoins, like the Relative Strength Index and the MACD, have continued rising.
The coin is attempting to move above the 23.6%Fibonacci Retracement level at $148. It has also formed what looks like a cup-and-handle pattern, a common bullish reversal sign.
Solana Price ChartTherefore, the longer-term SOL price prediction is bullish, with the next key level to watch being at the psychological level at $150. A move above that level will point to more upside to the psychological level at $200, which coincides with the 61.8% Fibonacci Retracement level.
On the other hand, a drop below the key support level at $120 will invalidate the bullish Solana price forecast.
Source: https://coingape.com/markets/solana-price-targets-200-as-wisdomtree-declares-its-dominance-structural/
