Key Takeaways
- Solana’s price trades above $135 for the first time in weeks, following a market crash from a high of $250 to a region around $120.
- Crypto experts predict the price of altcoins could see a relief bounce to the upside in the coming days as BTC trades towards $90k.
- A short-term target for SOL could be around $170, serving as key resistance and an area of interest ahead of the market rebound.
Solana’s (SOL) price has struggled in the last few weeks, trading below a region of $130 for the first time in months, following the price of SOL towards an all-time high of $295, but the price struggled to protect this region of price gain toward new price discoveries as speculation hinted at $500.
At the time, $500 price zone for Solana was looking more achievable ahead of the year; however, things have turned out beyond the ideas or speculations of the market following the crash of Bitcoin from a region of $126k all-time highs toward $80k, with speculation of $50k potential still on the table.
This market crash has impacted the price of SOL, which has moved toward its key demand zone of $125, protecting it from further price declines under bearish pressure as it seeks to push it toward the $90 region.
The current market rebound by BTC and other altcoins towards a region of $90k suggests the coming days could see altcoins demonstrate a price rally in the short-term toward key areas of interest.
Solana Market Sentiment – Boom or Crash
Solana’s traders and investors would be looking to bet higher on the price of SOL as the market attempts to rally towards a key high in the coming weeks, as this could influence the price of the crypto asset.
A steady inflow of institutional and whale capital to boost Solana’s activities could see price gain momentum to the upside, helping build renewed belief in the price, considering how the market has struggled to show bullish price action for weeks despite the hype that October is the best month for altcoins.
A strong bullish price action above $150 could see the price trade into its key area of interest around $170, acting as resistance for the price on the four-hour timeframe. The price could potentially rally towards $170 and $200 if the volume accompanying the price remains strong.
The price of the crypto asset targeting $170 as the next key highs looks realistic ahead of a general market rebound behind BTC in the coming few days.
FAQs
How much will be 1 Solana in 2030?
The price of the crypto asset could trade above $700 in 2030.
How high can Solana go in 2025?
The market is expected to see a short-term price rally, including altcoins, as the price of the crypto asset could potentially rally toward $170.
Is Solana expected to go up?
A short-term price gain for the crypto asset looks more ideal, considering the price has been in a downtrend for weeks now.
Related Read
