The cryptocurrency market has experienced a strong bullish reversal over the past few days. This has resulted in top tokens breaking down their important resistance levels. Furthermore, the Solana price today has achieved a new ATH of over $275, indicating increased bullish action.
Will the self-claimed “Ethereum-Killer” maintain its bullish action and hit $300 this week? In this article, we have uncovered the market sentiments, price analysis, and possible short-term possibilities of the Solana (SOL) token.
SOL Crypto Records A New All-time High!
The Solana price has surged by 19.61% with a trading volume of $24.39 billion, a change of +141.32%. Following this, the altcoin has achieved a new ATH, indicating an increase in the bullish influence of the altcoin in the crypto space.
The Relative Strength Index (RSI) has breached the overbought range in the daily time frame Further, with its average trendline recording a bullish convergence in the Solana price chart, this altcoin may continue gaining value in the coming time.
The EMA 50/200-day shows a positive curve in the price chart, indicating an increase in the bullish price action.
Will SOL Price Hit $300?
If a bullish price action sustains, the SOL coin price could achieve the $300 mark. Suppose, the bullish sentiment intensifies at that point, this could push the price of this altcoin toward its upper high of $350.
On the flip side, if the bears outrun the bulls, the Solana token could drop toward its support level of $250. Further, if the bulls fail to regain at that point, this could pull the price toward its crucial support level of $200.
Are you one of many who are wondering if the SOL coin will ever reach $1000 this altcoin season? Read our Solana Price Prediction to uncover the possible long-term mysteries!
FAQs
With increased adoption, this altcoin could reach a maximum trading price of $400 this year.
Amid rising bullish sentiment, this Solana price could achieve the $1000 mark by the year 2029.
At the time of writing, the value of one SOL token was $269.50.
