- Solana RWA value reached a record $2.7 billion.
- Analysts project a $430-$780 long-term target zone.
- SOL remains vulnerable while trading below $65.
Solana Price remains under pressure as the broader crypto market struggles to regain momentum. At press time, SOL traded at $63.30, down 3.25% over the past 24 hours. Despite the short-term weakness, analysts continue to point to substantial long-term upside, while network fundamentals show continued growth through a record expansion in tokenized real-world assets.
Solana Price Faces Near-Term Pressure Below Key Levels
The Solana Price continues to trade below the psychologically important $65 level. Market sentiment has been affected by mixed institutional demand and subdued retail participation, limiting bullish momentum in recent weeks.
According to analyst More Crypto Online, the current Elliott Wave structure suggests that the first major target area in the next bullish cycle could fall between $430 and $780. The analyst emphasized that these projections remain preliminary because confirmation of the current corrective wave is still pending.
The forecast is based on Fibonacci extension levels commonly used in Elliott Wave analysis. While speculative at this stage, the projected range highlights the scale of potential upside if the broader trend eventually shifts higher.
For now, the SOL price remains vulnerable to additional downside pressure. A sustained move below $60 could attract further selling activity across the market.
Solana Price Supported by Record Growth in RWA Activity
While price action remains weak, blockchain adoption metrics continue to strengthen. The Solana Price may eventually benefit from the network’s expanding role in tokenized real-world assets.
Data cited by the RWA Foundation shows that Solana’s distributed RWA value has climbed to a record $2.7 billion. The figure includes tokenized securities, stablecoin infrastructure, private credit products, and investment funds operating on the network.
The latest milestone follows strong growth throughout the year. Research from Messari reported that Solana’s RWA market capitalization increased 43% quarter over quarter to $2.01 billion during the first quarter. The move to $2.7 billion represents roughly another 34% increase from that level.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
