Solana Set for a 180% Surge ? Price Could Hit $300 Soon

Is Solana on Track for a New Rally ?

Technical data and trends in the Solana (SOL) futures market point to a potential 180% increase to reach $300, if the current momentum persists. Investors will closely monitor the key level of $180 to confirm a possible bullish movement.

The weekly charts of Solana show encouraging technical signals, suggesting that the altcoin could experience a new major rally in the coming months. Indeed, SOL’s price has managed to stay above the 50-day exponential moving average (EMA), a historically favorable level for significant price increases.

Furthermore, the Relative Strength Index (RSI) is currently at 58.60, indicating recent buyer weakness. By using the Fibonacci Bollinger Band (FBB), SOL has a price target of $300, representing a potential 70% increase from current levels. However, breaking and maintaining the FBB’s median resistance at $188 will be crucial.

In the 12H timeframe, SOL’s FBB is tightening and may indicate a strong move to $200 in the coming days if the market remains bullish. 

Upside Potential and Risks to Watch

Some technical elements suggest even greater upside potential for Solana. Once SOL’s price enters a price discovery phase, the bullish momentum could target the 1.618 Fibonacci extension, suggesting a possible valuation of up to $418. Or even beyond $1000, according to the most optimistic scenarios. 

However, traders need to watch for maintaining the 50-week moving average at $174. Failure at this level could lead SOL to retrace towards support around $157.

Moreover, robust activity in the Solana futures market, with an open interest of $7.5 billion, could indicate significant upcoming volatility. Negative funding rates observed on exchanges also reflect a bearish bias, paving the way for a potential bullish “short squeeze.”

In conclusion, Solana investors should carefully monitor the breakthrough of the $180 (200-day MA) and $188 levels in the coming weeks. A decisive breakthrough of this key level could confirm the continuation of the bullish trend towards $300 and beyond. However, a rejection at this stage could also lead to a healthy correction towards the $150-160 zone.

How to Buy SOL on Bitget ?

To take advantage of the imminent rise, follow these simple steps to buy Solana (SOL) on Bitget securely:

1. Create a Bitget account
   Sign up on Bitget or via the mobile app (available on Google Play or the App Store). Verify your identity (KYC) by providing an ID and a selfie for a smooth experience.
2. Deposit Funds
   Go to the “Buy Cryptos” section > “Third-party Provider”. Select a fiat currency (EUR, USD, etc.) and use a payment method such as a bank card, Google Pay, Apple Pay, SEPA, or others (via Alchemy Pay, Banxa, Mercuryo, Simplex).
3. Buy SOL
   Choose “Solana (SOL)” in the “Buy Cryptos” section, enter the desired amount, then confirm the transaction. Your SOL will be instantly credited to your Bitget Spot account.

More on this topic :

• Breaking : Firm Raises $1B to Buy Solana (SOL) : What It Means
• Telegram Teams Up with Elon Musk’s xAI : TON Price Jumps 14%
• Is the US Government Entering Bitcoin Mining ? Here’s What We Know