Solana's price forecast is extremely bullish based on recent data. With the rare formation of a historically bullish technical pattern, SOL is poised to kick off a massive rally. Savvy crypto investors shouldn't miss out on this opportunity.
The price prediction of Solana is currently a hot topic among crypto analysts as SOL has reached $180, its highest level since February. Surging by 85% since the April low, Solana’s market cap now exceeds $90 billion.
This remarkable recovery is happening in a broader bullish trend for cryptocurrencies, driven by a rebound in global stock markets, an increasing risk appetite, and the surge of memecoins on the Solana network. Among the top-performing tokens are Dogwifhat (WIF), Popcat (POPCAT), Peanut the Squirrel (PNUT), and Gigachad (GIGA), pushing their market cap from $6 to $15 billion in a month.
This strong momentum is evident in Solana’s fundamental data:
In total, Solana has processed over $82 billion in volume over the last 30 days, more than double that of Ethereum ($37 billion).
Beyond the current momentum, Solana’s price forecast could be even more optimistic due to several major catalysts:
Potential approvals of ETFs based on SOL in the United States, a strategic milestone for institutional recognition
On the SOL weekly chart, a rare formation is observed: the “cup and handle” pattern initiated in November 2021. A historically bullish technical setup.
According to CryptoBusy, the next targets for SOL are at $261 and $386 in the coming weeks.
Only a break below $94.50 (lower limit of the handle) would invalidate this bullish scenario.
The FBB reveals a crucial support around $145. If SOL loses this level, it could drop to $87 thereafter, negating this perspective. The Bollinger Bands are tightening on SOL, indicating that the next few days will be critical.
Considering the fundamental and technical data, Solana’s price prediction remains extremely bullish in the medium to long term. Its strong fundamentals, combined with a vibrant ecosystem, make it a must-have blockchain for cryptocurrency investors.
With its robust DEX activity, stablecoin adoption, memecoin explosion, and bullish technical structures, Solana ticks all the boxes to continue its upward trend.
Regulatory developments on crypto ETFs, announcements from US venture capital giants, and the SOL/BTC ratio evolution will be key factors to watch in the coming months. But all signs point to a major bullish continuation.
For those looking to invest in SOL, here’s a practical guide to get it on the reputable exchange Bitget:
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.
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