The cryptocurrency market traded with mixed results as the market leaders Bitcoin and Ethereum retraced, leading to a loss of 3.45 and 1.18 percent, respectively. Meanwhile, Solana is among the top performers.
The SOL Price surged more than 7% in the past 24 hours approaching its all-time high. Currently, It is trading at $204, which is slightly below its all-time high of $214. This uptrend took its market capitalization to more than $61 billion, making it the 6th cryptocurrency in the world.
SOL Price to Break $215 ATH Anytime Soon!
In the last 24 hours, the SOL/USD price traded within the range of $178.75 – $207.87 reflecting strong volatility.
SOL Price was on the verge of reaching its ATH, but due to a minor downside correction near $208, the price pulled pack to $204. However, the altcoin will now test the $208 resistance and Hit ATH on successful breakout which is quite possible.
Further, traders need to watch out for the resistance level at $216. SOL has followed a classic bullish continuation structure following September’s tumble. Thus, traders need to know that a profit target of $250 may also come into play before the asset hits a consolidation phase.
If it reaches a new all-time high, which looks likely, the next resistance could be found at $277.
Solana Price Eyeing Massive Surge of 360%
Popular crypto trader and analyst with pseudonymously named Smart Contracter believe that Solana price appears ready to surge by more than 4x its current levels. As per the analyst Solana (SOL) will outshine both Ethereum and Bitcoin (BTC).
As per the chart, the SOL/ETH pair is signaling bullish, which is itself bullish when paired against Bitcoin.
The crypto trader says that previously the ethereum killer displayed similar chart behavior like Binance Coin (BNB), which soared nearly 1,600% to a record high between January and May this year. He says that if Solana replicates BNB’s pattern, a price of $900 is in the cards.
His target price is now $900 – an appreciation of more than 360% from SOL’s current value.