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- SOL jumps above $213 with volumes surging, traders eye $218 resistance and $251 breakout levels.
- Alpenglow upgrade vote underway, aiming for 150ms block finality.
Solana’s native token SOL has surged 4.21% in the last 24 hours, reaching $213.40, with daily trading volumes climbing 46.4% to $13.6 billion. The strong momentum has lifted SOL’s weekly gains above 15%, outpacing most major altcoins.
The rally coincided with the Alpenglow consensus upgrade, also called SIMD 0326, reaching the community vote phase. The vote spreads over Epochs 840 to 842, taking roughly around a couple of days for each. Alpenglow is set to reduce block finality times from 12.8 seconds to 150 milliseconds.
Developed by Anza, a Solana Labs spinoff, the proposal suggests replacing Proof of History and Tower BFT with a verifiably fast protocol. If passed, it will require at least two-thirds support from validators. Current turnout sits at 9.87%, with 9.76% voting in favor.
Solana $218 Resistance Level in Focus
Meanwhile, retailers are now heavily bullish on SOL, as Santiment reports 5.8 bullish comments for every bearish one, the highest ratio in 11 weeks. Fibonacci retracements set $218 as the main resistance level, which is the 0.618 retrace of preceding swing.
If a daily close above $218 is achieved, momentum could quickly broaden towards $251 and even $280. Support remains at $196 with further protection at $183, consistent with the 200-day EMA. A rejection at $218 would send the token towards such lower positions.
Derivatives markets also support greater speculation. Open interest in SOL futures rose 6.68% to $13.43 billion as trading volumes rose 39.07% over the past 24 hours. Options trading nearly tripled week-on-week, up 190%, with leading traders at Binance holding long exposure above 2.5 to 1.
Broader Implications of Alpenglow
Beyond near-term trading levels, Alpenglow provides faster speeds suitable for real-time finance, gaming, and social use cases. Its sub-one-second finality gives Solana a competitive edge over rivals, especially in decentralized finance and institutional adoption.
Greg King, REX Financial CEO, speculated Solana may take on Ethereum in the growing stablecoin market, calling SOL’s technology well-poised for expansion as demand grows. This is in line with analysts predicting greater on-chain activity driving future token demand.
While developers and validators vote in support for an upgrade, some community members remain doubtful based on Solana’s past network outages. However, the upgrade could yet prove a turning point for its adoption and dependability if it is passed with an overwhelming majority.
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