Solana Hits $275 ATH! Is $300 Next in Sight?
The cryptocurrency market has experienced a strong bullish reversal over the past few days. This resulted in the top coin breaking out of its important resistance level. Additionally, Solana price has reached a new ATH above $275 today, indicating increased bullish action.
Will the self-proclaimed “Ethereum Killer” investor maintain his bullish trend and hit $300 this week? In this article, we reveal market sentiment, price analysis, and possible short-term possibilities for the Solana (SOL) token.
SOL Cryptocurrency Hits All-Time Highs!
Solana price surged 19.61%, trading volume reached $24.39 billion, change +141.32%. The altcoin has since reached a new ATH, indicating an increase in the altcoin’s bullish influence in the cryptocurrency space.
The Relative Strength Index (RSI) has broken out of the overbought range on the daily time frame. Additionally, this altcoin is likely to continue to appreciate in value in the future as its average trendline is recording a bullish convergence on the Solana price chart.
The 50/200-day EMA shows a positive curve on the price chart, indicating an increase in bullish price action.
Will SOL price reach $300?
If the bullish price action continues, the SOL token price may reach the $300 mark. Assuming bullish sentiment intensifies at this time, this could push the price of this altcoin to highs of $350.
On the other hand, if the bears outweigh the bulls, the Solana coin may drop towards the $250 support. Furthermore, if the bulls fail to recover at this point, this could pull the price towards the key support at $200.
Are you one of the many people wondering if SOL coin will hit $1000 this altcoin season? read our Solana Price Prediction Unravel a possible long-standing mystery!
FAQ
As adoption increases, the altcoin could trade as high as $400 this year.
Amid rising bullish sentiment, Solana’s price could reach the $1,000 mark in 2029.
As of this writing, one SOL token is worth $269.50.
