- Solana social sentiment hits rare 18:1 positive ratio, reports Santiment
- Surge linked to BlackRock’s fund using Solana & GameStop/meme coin hype
- SOL price consolidates near $138, testing key 20-day EMA support level
Solana (SOL) sees a significant surge in positive social media sentiment, reportedly driven by growing institutional adoption and a vibrant ecosystem hype cycle.
With factors like BlackRock’s tokenized BUIDL fund utilizing the network and GameStop-related discussions boosting engagement, Solana’s position as a leading blockchain grows stronger. It currently ranks as the second-largest blockchain by Total Value Locked (TVL), holding approximately $6.8 billion.
Santiment: SOL Social Sentiment Reaches Rare 18:1 Positive Ratio
On-chain analytics platform Santiment reports Solana currently sees an unusually high 18-to-1 ratio of positive versus negative comments across major social media platforms. This strong enthusiasm, Santiment suggests, arises from tangible developments like BlackRock’s fund integration and high community engagement, partly linked to ongoing GameStop meme stock discussions that often spill into crypto circles.
Related: Solana’s “Breakout” Moment? Hackathon & BlackRock Signal Growing Ecosystem
Santiment data shows sentiment around SOL has spiked sharply, with social platforms reflecting widespread optimism about its role as institutions increasingly adopt blockchain solutions. Historically, Santiment notes, such sharp sentiment peaks often correlate with bullish price action for an asset.
SOL Price Analysis: Consolidation Near Key Levels
At press time (March 27, 2025), SOL trades around $137.96, sitting just above its 20-day Exponential Moving Average (EMA) near $136.57. However, following a 4.45% dip in the past 24 hours, SOL is actively testing this EMA level as immediate support.
The price is also consolidating near the middle Bollinger Band (BB) around $130.94, with near-term resistance marked by the upper band close to $143.71.
A decisive breakout above the $143.71 upper BB could potentially trigger a rally toward the $160 level, with further chart resistance possible near $180. Significant underlying support is seen near the $118.16 mark.
The Relative Strength Index (RSI) currently hovers near 48.62, indicating neutral momentum; a cross above the 50 level might suggest renewed bullish strength favored by buyers.
Related: Arthur Hayes’ Hot Take: Ethereum to $5,000 Before Solana Even Nears $300
If the extremely positive sentiment translates into sustained buying pressure, SOL could attempt to reclaim the $150 psychological level soon.
Conversely, a drop below the $130-$131 mid-BB area could weaken the immediate bullish case, potentially leading to a retest of the $118 support.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
