Solana: What are the 2 major factors helping SOL’s price soar?

Solana is making waves with surging DEX volumes surpassing $10B and record-breaking token burns, fueling SOL’s price momentum.

This signaled a strong surge in user activity and network engagement, which has caught the crypto community’s attention.

As liquidity flows into Solana’s DEXes, the implications for SOL’s demand—and, by extension, its price—are significant.With 50% of transaction fees being burned, the supply of SOL continues to contract, creating scarcity in the market. Notably, the RSI indicated overbought conditions, suggesting a possible consolidation period, while the MACD maintained a bullish stance, hinting at further upside potential.The next major resistance level sits at $275—a point that could either trigger a breakout or act as a barrier.

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