Solana Trades Within a Tight Range; A New ATH Above $300 Seems to be Inevitable-But When?
After rising above $97,000, Bitcoin price fell below the range again, once again interrupting the ongoing bullish trend. Therefore, the selling pressure on Solana price prevented the price from rising to highs above $190. Meanwhile, bulls managed to hold support amid less buying pressure, hinting at a potential uptrend. Now comes the question: SOL price Reaching $200 before the end of the month?
Solana has made huge moves both technically and fundamentally in recent times, attracting huge attention. Whether it’s the potential opportunity for ETF approval or its strong performance in artificial intelligence integration (aiming to power more than 70% of artificial intelligence agents), SOL price is expected to attract bullish sentiment. As a result, billions of dollars of huge liquidity are expected to enter the market, which will cause SOL prices to rebound to new highs. When is this.
The weekly chart of SOL price growth suggests an oversqueeze in price following the recent decline from levels above $215. At the same time, the coin is secretly consolidating, which could push the price to the edge of consolidation. This could further revive chances of a move above $200.
The recent rise has pushed the price above the uptrend line, giving it a renewed chance to reclaim the $200 resistance. Interestingly, the +Di and -Di levels have diverged, which may further reignite hopes of a bullish crossover, signaling a significant change in trend. On the other hand, MACD is about to verify a bullish crossover and may enter positive territory, signaling the beginning of a new uptrend.
Once Solana price holds the resistance zone, a move up to $225 could be verified, but only if buying volumes come in. Until then, the price is likely to continue to trade sideways below $250. However, market sentiment is expected to rise later this year, whereby a strong upward trend may be validated.
