Following a massive Q3 performance, Solana (SOL) has kicked off \u201cUptober\u201d with a bounce, attempting to reclaim a crucial area as support to continue its bullish rally. Some analysts have suggested that the cryptocurrency is ready to challenge the recent highs and enter a new price discovery phase.<\/p>\n
After the recent market correction, Solana has started the new quarter with a 7.3% bounce from yesterday\u2019s lows. Last week, the cryptocurrency<\/a> fell from its recent highs and hit a local low of $190 after closing below the $200 support for the first time in nearly a month.<\/p>\n Over the weekend, the altcoin reclaimed the crucial barrier and attempted to turn the $205-$210 area into support during the last two days of September. After closing the month around the $208 level, SOL\u2019s price bounced 5.3% on Wednesday morning toward the $220 mark.<\/p>\n Some market watchers previously noted that $218 level was the most important level for the cryptocurrency\u2019s recovery, as the largest supply wall exists around this level. This level coincides with Solana\u2019s $120-$220 macro range high.<\/p>\n Analyst Crypto Jelle considers<\/a> that SOL \u201cis ready for its second expansion wave for the cycle\u201d after months of re-accumulation, the September rally, and the successful retest of the breakout level.<\/p>\n Amid today\u2019s pump, the analyst affirmed that the cryptocurrency has \u201cone last hurdle to overcome\u201d before the rally to new highs begins. Per the post, once Solana turns the $250 level into support, the altcoins will be \u201cin for a great end of the year.\u201d<\/p>\n Similarly, Altcoin Sherpa suggested<\/a> that SOL will likely rally toward the $230-$235 area and above if Bitcoin (BTC) and the crypto market remain stable.<\/p>\n Solana\u2019s momentum has been partially driven by growing<\/a> corporate interest in the cryptocurrency, with SOL-focused Digital Asset Treasuries (DATs) pouring billions of dollars into the strategies over the past few months.<\/p>\n On October 1, Nasdaq-listed VisionSys AI Inc. announced<\/a> a $2 billion SOL-based treasury strategy in partnership with Marinade Finance, Solana\u2019s leading staking protocol.<\/p>\n The initiative aims to \u201cstrengthen VisionSys\u2019s balance sheet, enhance liquidity, and create long-term shareholder value through the strategic acquisition and staking of\u00a0Solana (SOL),\u201d the announcement reads.<\/p>\n Marinade Finance will serve as VisionSys\u2019s exclusive staking and ecosystem partner, and the program\u2019s first phase is set to acquire and stake $500 million in SOL within the next six months.<\/p>\nCorporate Momentum, ETFs To Fuel Q4 Rally<\/h2>\n