Coin Edition -
- Solana soars to $173.27, marking a 14% rise in 24 hours, hitting a 25-month high.
- SOL sees a 51% increase in 30 days, with predictions pointing towards $250.
- RSI hits 80.50, signaling potential overbuying amid its bullish surge.
Solana (SOL) price has surged by 14% in the last 24 hours, reaching $173.27 as bullish momentum continues to build in the cryptocurrency market. This impressive gain is part of a broader uptrend for SOL, which has seen its value increase significantly over the past month.
The cryptocurrency industry, buoyed by Bitcoin’s new all-time high, has been experiencing a substantial uptrend in valuation, with SOL showcasing robust bullish sentiment.
SOL/USD 24-hour price chart (source: CoinStats)
Bullish Sentiments in Solana’s Rally
The recent price surge places Solana at the forefront of a bullish wave sweeping across the crypto sector. Over the past seven days, the SOL token has registered approximately a 23% increase, while its 30-day performance shows an even more remarkable 51% uptick.
This sustained buying pressure is a clear indicator of the growing investor confidence in Solana’s potential. Concurrently, this bullish momentum has been buoyed by the announcement of an Israeli Shekel-backed stablecoin, BILS, which will launch using token extensions on Solana.
This uptrend has resulted in Solana recording a new 25-month high, signaling strong bullish sentiment within the market. Analysts and traders have expressed bullish predictions for SOL, with some forecasting a potential rally toward the $250 mark. This sentiment is based on the transformation of the March 2022 resistance level of around $140 into a strong support zone.
$SOL now based and fuel up for leg to $250. https://t.co/nIpcbScR4j pic.twitter.com/IP1CidZfyw— Bob Loukas