As Bitcoin surpasses the $99,000 mark, with a new all-time high of $99,314, Solana shares the momentum to hit a new ATH. With a 10% surge in the last 24 hours, the bull run in SOL price powers tailwinds for other altcoins.
Will this fresh bullish trend drive the SOL price to $300 as it enters the uncharted price levels? Let’s find out in Coinpedia’s latest Solana price analysis.
In the weekly chart, the SOL price action showcases a descending triangle breakout rally, completing a cup and handle pattern. This pattern breakout with the neckline at the $249 mark has resulted in a new all-time high for Solana.
Currently, it is trading at $262, with a 24-hour high of $264. As the bullish trend continues, SOL price action is on the verge of completing the third consecutive bullish week.
As Solana is trading at uncharted levels, the underlying bullish momentum is teasing an uptrend continuation. Furthermore, with the broader market recovery at play and Bitcoin inching closer to the $100,000 mark, Solana is likely to hit the $300 mark.
MACD: Supporting the bullish trend, this indicator gives a positive crossover with a spike of bullish histograms.
Based on the Fibonacci levels, the upside price target for Solana is at $602.92. This price coincides with the 1.272 Fibonacci level on the logarithmic chart.
On the flip side, a retest of the $250 breakout is possible if the buying pressure recedes.
Curious about Solana’s future? Read Coinpedia’s latest Solana (SOL) Price Prediction for future price targets.
Solana is trading at $262, up 10% in the past 24 hours, after breaking out of a descending triangle and completing a cup-and-handle pattern.
Short-term targets include $300, with a long-term Fibonacci-based target at $602.92 if bullish momentum sustains.
The MACD indicator shows a positive crossover, supported by a surge in bullish histograms, signaling continued upward momentum.
Solana is pulling back into key support levels, as the selling volume is causing the…
The XRP price is currently facing immense selling pressure, which has dragged the levels below…
June presents fresh opportunities for investors aiming for substantial gains in cryptocurrency. Emerging meme coins…
Ripple (XRP) has long been celebrated as a utility-focused cryptocurrency, particularly for pioneering efficient cross-border…
Artificial Intelligence (AI) and Big Data are transforming cryptocurrency by providing tools for analysis, prediction,…
Cryptocurrency market evolves, investors constantly seek the next breakout project—one that offers real-world utility, disruptive…