Price Analysis

Solana Surges Above $200 ! SOL Price to Hit New ATH Today?

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Bitcoin reached that high on Wednesday, but has since dropped to $64.2K on Thursday, and is now at $64.8K. Solana, the sixth most valuable cryptocurrency by market capitalization, beats its peers. SOL was able to entice all of the bulls into its market, gaining 12.4 percent in the last 24 hours.

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SOL was trading at a high of $183 at the time of writing. With little in the way of technical resistance levels, the market looks set to float higher. The overall sentiment in the cryptocurrency market is heavily positive, which could add extra volatility on any downturn.

SOL Price Analysis:

In recent months, the monthly time frame of SOL has been quite bullish, but it has recently started to reject and lose momentum. This indicates that the bulls’ extended hold on the market is beginning to loosen.

Since the beginning of 2021, the SOL currency has been on the rise, with a tiny dip in September after hitting an all-time high of $214.96. The price of SOL might readily rise beyond $200 and the key resistance level of $215. 

The bullish triangle pattern’s primary aim is $226. Sellers, on the other hand, might trade their Solana between the psychological support level of $200 and the all-time high of $216.When a rally above $195 is assured, two locations could represent substantial resistance. 

Solana is blooming:

MonkeyBall, a play-to-earn gaming platform, has announced the completion of its recent investment round, in which it raised over $3 million from a variety of venture and angel investors. 

Synchrony Finance, an asset management protocol located in Solana, has raised $4.2 million in strategic funding. 

Synchrony co-founder Andrew Fraser told The Block that the investment was raised in two phases: seed and private, with both rounds using Simple Agreement for Future Tokens (SAFT) sales.

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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.

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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