The cryptocurrency market has experienced a strong bullish reversal in recent days. This has led to top tokens breaking off their key resistance levels. Moreover, Solana price has reached a new ATH above $275 today, indicating increased bullish action.
Will the self-proclaimed “Ethereum-Killer” continue his bullish move and reach $300 this week? In this article, we have uncovered the market sentiment, price analysis, and potential short-term opportunities of the Solana (SOL) token.
SOL Crypto records a new all-time record!
Solana price is up 19.61% with a trading volume of $24.39 billion, a change of +141.32%. Following this, the altcoin has reached a new ATH, indicating an increase in the altcoin’s bullish influence in the crypto space.
The Relative Strength Index (RSI) has crossed the overbought range in the daily time frame. Furthermore, with the average trendline registering a bullish convergence on the Solana price chart, this altcoin may continue to gain value in the near future.
The EMA 50/200 day shows a positive curve on the price chart, indicating an increase in bullish price action.
Will the SOL price reach $300?
If bullish price action continues, SOL coin price could reach the $300 mark. Suppose bullish sentiment strengthens at that point, it could push the price of this altcoin to the highs of $350.
On the other hand, if the bears outrun the bulls, the Solana token could fall towards the $250 support level. If the bulls fail to regain themselves at that point, it could pull the price towards the crucial USD 200 support level.
Are you one of the many wondering if the SOL coin will ever reach $1000 this altcoin season? Read our Solana price forecast to discover the possible long-term mysteries!
Frequently asked questions
With greater adoption, this altcoin could reach a maximum trading price of $400 this year.
Amid rising bullish sentiment, this Solana price could reach the $1000 mark by the year 2029.
At the time of writing, the value of one SOL token was $269.50.
Credit : coinpedia.org
