- Solana breaks ascending triangle pattern targeting $300 following volume surge
- Sharps Technology raises $400M for digital treasury with SOL as primary asset
- US Commerce Department selects Solana for GDP data blockchain pilot program
Solana has broken past critical technical resistance levels, gaining significant institutional funding and official attention.
The cryptocurrency cleared an ascending triangle formation on 12-hour charts with strong volume, prompting analyst Ali to project a $300 target following the breakout confirmation.
Recent institutional moves include Sharps Technology raising over $400 million to implement a digital treasury strategy with SOL as the primary holding. Additionally, DeFi Development Corporation added 407,247 SOL tokens to its holdings, increasing its total to 1.83 million tokens.
Technical Breakout Targets Multiple Resistance Levels
SOL currently trades around $216 after bouncing from the $201 resistance zone, establishing a higher low pattern that confirms bullish continuation. Analysts identify $238 as the initial target following the successful reclaim of $216 support levels.
The daily chart structure shows SOL attempting to break through resistance at $235 before potentially challenging all-time highs. Some technical analysts project even higher targets with $500 possible in Q1 2026 based on longer timeframe patterns.
Bullish expectations could be reversed if present breakout levels are not maintained, since this could lead to a false breakout scenario. To confirm the completion of the ascending triangle and its ongoing upward trajectory, the cryptocurrency must maintain crucial support zones.
Government Pilot Program Validates Infrastructure Capabilities
Solana has been chosen by the US Department of Commerce to participate in a pilot initiative that will use Chainlink technology to disseminate GDP statistics on-chain. This is the first time economic data at the government level has been distributed across blockchain networks, evaluating transmission speed and transparency.
Solana’s inclusion alongside Bitcoin, Ethereum, Tron, Stellar, Avalanche, Arbitrum, and Polygon validates its technical infrastructure for institutional applications. The selection reinforces Solana’s positioning beyond DeFi and NFT use cases toward foundational economic data applications.
This government recognition strengthens the narrative that Solana can handle traditional finance and real-world asset tokenization requirements. High throughput capabilities likely influenced the selection for this economic data pilot program.
The combination of technical breakouts and institutional interest creates favorable conditions for continued price appreciation. Corporate treasury allocations provide sustained buying pressure that differs from speculative trading patterns.
DeFi Development Corporation’s accumulation strategy indicates institutional confidence in Solana’s long-term prospects. These large-scale holdings suggest professional investors view SOL as a strategic asset rather than short-term speculation.
Source: https://thenewscrypto.com/solana-price-eyes-new-high-as-us-gdp-pilot-program-drives-institutional-interest/