Solana's (SOL) growth potential is closely tied to Bitcoin's performance. If the leading cryptocurrency hits $150,000, SOL could soar to levels between $400 and $600. Let's delve into the factors driving Solana's price surge.
Bitcoin is currently oscillating between $114,000 and $121,000, approaching its next resistance level at approximately $125,000. Over the past month, it has recorded a positive growth of more than 14%. Meanwhile, Solana is also showing strong momentum, with investors closely watching its performance as it often mirrors broader market trends led by Bitcoin.
If this bullish trend continues beyond this first resistance level, it could potentially extend to $131,000, representing an increase of approximately 8% from its current price. The relative stability of recent indicators suggests a positive sentiment among traders, fueling hopes for further gains.
The price of Solana has recently fluctuated between $164 and $192, gaining more than 36% over the last month. After a six-month decline, its rebound offers a promising turnaround. The cryptocurrency sits just below its ten-day moving average, at around $190, suggesting potential to surpass challenging thresholds like $202 soon.
If Solana maintains this momentum, it could test new heights beyond $230 minimum. Considering its recent surge of more than 18% in a week, continued upward movement could mean significant gains, possibly approaching $300. Investors should closely monitor trends, as Solana is clearly making waves.
But if Bitcoin reaches $150,000 in the coming months, other cryptocurrencies like Solana, ADA, and BNB could also experience substantial increases. Solana has the potential to reach between $400 and $600 under these conditions.
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Trading cryptocurrencies involves risks, and it is important not to invest more than you can afford to lose.
InvestX is not responsible for the quality of the products or services presented on this page and cannot be held liable, directly or indirectly, for any damage or loss caused by the use of any product or service featured in this article. Investments in crypto assets are inherently risky; readers should conduct their own research before taking any action and invest only within their financial means. This article does not constitute investment advice.
Risk Warning : Trading financial instruments and/or cryptocurrencies carries a high level of risk, including the possibility of losing all or part of your investment. It may not be suitable for all investors. Cryptocurrency prices are highly volatile and can be influenced by external factors such as financial, regulatory, or political events. Margin trading increases financial risks.
CFDs (Contracts for Difference) are complex instruments with a high risk of rapid capital loss due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should assess whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Before engaging in financial or cryptocurrency trading, you must be fully informed about the associated risks and fees, carefully evaluate your investment objectives, level of experience, and risk tolerance, and seek professional advice if needed. InvestX.fr and the InvestX application may provide general market commentary, which does not constitute investment advice and should not be interpreted as such. Please consult an independent financial advisor for any investment-related questions. InvestX.fr disclaims any liability for errors, misinvestments, inaccuracies, or omissions and does not guarantee the accuracy or completeness of the information, texts, graphics, links, or other materials provided.
Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
