Solana has pulled off an incredible comeback. The new ATH this week fueled its ascension into the top ten. The altcoin on the other hand, has reached huge milestones in a short period of time and has developed tremendously.
SOL price has risen dramatically in the last seven days, reaching an all-time high of over $80 on August 18th. The total market capitalization is at around $21 billion.
SOL Price Analysis
The Solana coin is creating divergence with price movement and technical characteristics on the weekly chart. The coin is rising in value as it forms greater highs and lower lows patterns. The current Solana price prediction mood is bullish.
The coin’s price has been fluctuating between $68 and $75.90 on a daily basis. Meanwhile, the token remains barely over $71 as bulls aim for a return to $80.
The SOL bulls may be taking a break. A short-term slump does not always imply that the asset has reached its peak. This is why. To begin with, the general mood remained upbeat. Awesome Oscillators green final bars mimicked a similar phase.
The MACD, which was slanted upwards, was also quite positive. The Relative Strength Index [RSI] has slowed towards the extreme overbought zone but has not yet turned down, indicating that the SOL market is still dominated by buyers.
$150 for Solana?
Smart Contracter, a well-known crypto trader, is forecasting fresh all-time highs for Ethereum competitor Solana.
A 130 percent gain for Solana from its current price of $65.15 isn’t outlandish, according to the crypto analyst. The Analyst estimates a $150 price tag for Solana after five waves, using Elliott Wave, which predicts price swings based on crowd psychology that tends to emerge in waves.
“This SOL ath [all-time high] breakout is looking like a monster wave three in the making. $150 is not unreasonable in my opinion.”