Price Analysis

Solana Price Surges Yet Again, Where Will This Discovery Lead To?

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Highlights

    Solana price seems to be self-assured of reaching new highs at the earliest as each day the asset ends up trending in the discovery phase

    Despite a slight pullback, the asset remained highly focused on achieving greater highs which now is extended from $150 to $200

While the most dominant crypto, Bitcoin price is struggling to sustain above $50,000, many other altcoins just hitting harder each day. Assets like Ethereum, Polkadot, Cardano, Solana, etc are following a wider uptrend, enhancing the possibilities of higher highs. Solana price, being away from the crowd spikes whereas other altcoins still face a consolidation after a notable jump. 

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SOL price, since a month, appears to have set the target itself which is beyond all predictions. And therefore, the price just spiked up, despite the narrow trend outspread within the crypto space. The asset is slowly heading towards the top 5 with a growing volume of nearly 100%.

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The second phase of the price rally was initiated just a fortnight ago with a price of around $40. Interestingly, the trading volume also spikes remarkably which triggered the price towards the 3-digit figure. However, even after attaining the milestone, the SOL price appears to have not slowed down its pace. And hence the rally showcases an immense ability to propel to $200 anytime from now. 

With a jump of nearly 23.77%, the SOL price stands at $141.47 and recording close to a 100% jump in trading volume, the asset is currently the most traded one after Bitcoin and Ethereum excluding tether. And hence with the immense popularity of the token within the market, the storm appears to be clam only after hitting the initial target at $160- $170. 

Collectively, Solana price is about to manifest yet another gigantic rally with a target higher than $200. However, maintaining a similar pace and strength, the rally could also smash $500 by the end of 2021. And hence SOL price could be the most profitable asset of the year with a 5-digit ROI.

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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.

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