Solana Price Up 3.3% As Jump Crypto Proposes End To Block Cap

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Solana prices skyrocketed 3.3% to trade in the last 24 hours $209.46which rose 52% to $5.26 billion as of 3:40am.

According to Coinmarketcap, it became the top winner of the largest 100 codes.

The rise in Sol Price comes as Jump Crypto’s Firedancer team submitted a proposal to remove Solana’s fixed block limit of 60 million computing units after an Alpenglow upgrade.

This change allows the powerful validator to handle larger and more complex blocks, allowing slower validators to skip blocks that cannot be processed.

This is called SIMD-0370 and creates more incentives for the baritler to improve the hardware, earn more transaction fees, and keep the network running at top speeds.

Once the validator upgrades the system, Solana’s network is much faster, with transaction finality already dropping from 12.8 seconds to just 150 milliseconds after Alpenglow.

That means there could be more transactions, more fees and increased demand for Solcoin.

Some engineers are worried that this could fight smaller validators, but for now there are plans in place to improve performance and attract new users and projects to Solana’s ecosystem.

Solana Price holds important support

Solana’s price action shows a bounce after a recent sale from a high of nearly $253. Currently, SOL is $209.14 above the 50-day Simple Moving Average (SMA). This serves as an important level of support for buyers.

The long-term 200-day SMA is much lower at $166.79. That means there’s a wide cushion of dips before the trend gets negative.

Over the week, Sol fell by more than 11%, but buyers became stronger, mainly in the $206-$209 area and quickly resumed prices. This has confirmed that the support zone is well maintained, and recent attempts by the rally have brought optimism back to the market.

The RSI (Relative Strength Index) is 45.90, and is neutral and not too high or too low. MACD (divergence of moving average convergence) is negative, but the histogram is shrinking, suggesting that sales pressure could end soon.

The ADX (mean directional index) remains at 27.63, marking a stable but not overheating trend. Other short-term moving averages, like the EMA-10 and EMA-20, still show sales signals, but the long-term averages are bullish.

Solana Price Up 3.3% As Jump Crypto Proposes End To Block CapSolana Price Up 3.3% As Jump Crypto Proposes End To Block Cap

solusdt Analysis Source: TradingView

Recent price action has produced higher and higher lows since July. That is, the uptrend is still playing, and buyers are under control

Looking at the chart, the next resistance zone for SOL is $218-$230. Once the buyer exceeds $218, the coin can quickly move to $230.

The next key level was $253, a recent high. Once you pass this level, you can open the door to run to $275 or $300, depending on how much demand flows into the market.

The break, below $206, will spotlight near $187 for long-term support, then $166. Most analysts expect strong purchases to emerge before Sol Falls goes low, thanks to strong purchases and active network participation.

The Firedancer proposal and Alpenglow upgrade set stages of speed and scalability improvements. This makes Solana even more appealing to both institutional and retail investors.

Technical indicators remain mixed in the short term, but long-term signals still show a greater upward trend. As always, prices can bounce up and down with market volatility, but Solana is good enough to be better than most rivals if momentum applies.

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