Price Analysis

Solana(SOL) Price Could Take Up Another 3x Rally To Reach $250 By This Day!

news-image
Highlights

    Solana Price is showcasing a huge tendency to rally beyond $300 but need to test some crucial levels

    With the intensified rally, the asset could also flip Cardano in near future to enter the top 5 cryptocurrency list

The crypto market is yet again on the verge to record a $1 billion trading volume with a market cap of more than $2.6 trillion. BTC price is back above $63,000 while the Bitcoin dominance sustains around 45.7%. And hence it has ignited the rest of the altcoins, specifically the top 10 including Solana price. 

Advertisement

The asset formed its new ATH recently around $215 and since then was dragged back below $190 within a couple of days. However, the previous day’s trade witnessed a substantial rebound that uplifted the price above $205. Yet there is a tough fight between the buyers and sellers for a couple of hours. And hence the candles in the 4-hr frame mirror the Doji pattern. 

solanachart
Source: Tradingview

Considering the pattern, the price is following a falling wedge pattern and quickly broke the channel to form a new ATH. With a strong retest at the support levels at $205 after a slight pullback from the higher levels. However, a rebound from here can increase the chance of smashing $220 in near future. 


With the upcoming rally, a substantial surge is fast approaching which can elevate the target beyond $250 at $335 as said by analyst Stacking. However, with the intensified rally, the chances of the asset flipping Cardano(ADA) are pretty high in terms of market cap. 

Show More

Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

Related Articles

Back to top button