Can SOL Price Touch $300?
Cryptocurrency President has signed several administrative orders that support cryptocurrencies, which helped the Altcoin market strongly recover. As a result, the price of SOL bounced from an important level of support of $ 240, and the key chain indicators also increased. The transactions on the SOL network also increased significantly, that is, the monthly high point, which pushed SOL price to the $ 300 at the end of this month.
Trump Memecoin has created a new ATH for Solana’s StableCoin supply
Trump models have recovered from the recent lows due to the release of coins. Crypto supporter Donald Trump and its return to the stable supply of Solana, the return of Solana, pushed the number of transactions and locking total value (TVL) to a record level.
Please read another: Sorana price prediction today (January 24, 2025)
According to the data of this block, the number of transactions on the Solana network is close to its monthly peak of 291.6 million. At present, the counting is 289.7 million, indicating that the activity of the SOL network has surged.
In the past week, the number of Stablecoin in the Solana system has doubled, close to $ 11 billion for the first time, and set new records.
An important reason for this surge seems to be the popularity of Trump’s family theme coins, especially Trump’s official (Trump) and official Melania Modelin coins. These coins have brought billions of dollars, and recently attracted hundreds of thousands of new users to reach Solana.
As a result, the number of new Soran wallets created every day reached nearly 5.2 million. In addition, the active address on the SOL network is now 5.3 million.
The data of Defillama shows that the excitement of the cause in the Solana ecosystem has also led to a significant increase in its total value lock (TVL).
Solana’s TVL soared from US $ 1.28 billion on January 24, 2024 to today’s $ 12.44 billion, which has increased by more than 870 % since the beginning of this year. In the past week, it has also increased by 25 %.
What is the next step of Sol Price?
The price of Solana is stable at the key level of its chart, which indicates that buyers are confident. Although it tries to maintain more than $ 260, the seller is still delayed at a sharp rise. At present, after 7.9 % in the past 24 hours, Solana’s price is $ 266.
The transaction is higher than $ 265 for SOL/USDT, which may be higher than the nearby Fibonacci level. The relative strength index (RSI) is 60, and in the purchase area, which indicates that the price of Solana may be higher than $ 290. If it keeps above $ 290, it may be good for buyers, and the price may be increased to $ 310.
However, if the price drops to the 20 -cycle index on the 1 -hour chart, the moving average (EMA20), the seller can reduce it to $ 233.
