Here’s How Solana Price May Hit $300 Supported By This Critical Trend Line
The post Here’s How Solana Price May Hit $300 Supported By This Critical Trend Line appeared on BitcoinEthereumNews.com. Solana price trades sideways within the $140 and $150 zone but continues defending critical support on the weekly chart, suggesting an upswing is looming. Moreover, SOL eyes a surge past $300 as it mirrors previous cycles that preceded rallies to all-time highs. Solana Price Eyes $300 After Bounce From Critical Trendline SOL value today shows signs of entering a recovery phase that may culminate in a 100% surge to $300. This is according to analyst Mihir, who observed that SOL has been trending upwards since 2023, and defending resistance at the lower ascending trendline. In his analysis, Mihir noted that each time the SOL price bounces from this trendline, it goes on an uptrend. In 2023, the token recorded a 2x rally after making such a bounce, and later in 2024, SOL went on a parabolic bull run from below $20 to an all-time high of $294 after recovering from this support level. Solana Price Chart If history rhymes, Solana may have entered a recovery phase, which may push the price upwards to as high as $300 in the near term. This bullish leg may occur in the coming months. SOL Overtakes Ethereum in Staking Volumes SOL price also eyes gains after analyst Colin Wu noted that Solana has surpassed Ethereum in staking volumes, a phenomenon that has sparked discussions within the crypto community about whether SOL is now a more secure layer 1. Solana staking volumes stand at $61 billion, which is slightly higher than Ethereum’s $58.7 billion. While this data suggests that validators are favouring the Solana network over Ethereum, the latter still leads in terms of blockchain security. However, this surge may still fuel a Solana price rally as high staking volumes indicate that a majority of tokens are being taken out of the circulating supply, which…
The post Here’s How Solana Price May Hit $300 Supported By This Critical Trend Line appeared on BitcoinEthereumNews.com.
Solana price trades sideways within the $140 and $150 zone but continues defending critical support on the weekly chart, suggesting an upswing is looming. Moreover, SOL eyes a surge past $300 as it mirrors previous cycles that preceded rallies to all-time highs. Solana Price Eyes $300 After Bounce From Critical Trendline SOL value today shows signs of entering a recovery phase that may culminate in a 100% surge to $300. This is according to analyst Mihir, who observed that SOL has been trending upwards since 2023, and defending resistance at the lower ascending trendline. In his analysis, Mihir noted that each time the SOL price bounces from this trendline, it goes on an uptrend. In 2023, the token recorded a 2x rally after making such a bounce, and later in 2024, SOL went on a parabolic bull run from below $20 to an all-time high of $294 after recovering from this support level. Solana Price Chart If history rhymes, Solana may have entered a recovery phase, which may push the price upwards to as high as $300 in the near term. This bullish leg may occur in the coming months. SOL Overtakes Ethereum in Staking Volumes SOL price also eyes gains after analyst Colin Wu noted that Solana has surpassed Ethereum in staking volumes, a phenomenon that has sparked discussions within the crypto community about whether SOL is now a more secure layer 1. Solana staking volumes stand at $61 billion, which is slightly higher than Ethereum’s $58.7 billion. While this data suggests that validators are favouring the Solana network over Ethereum, the latter still leads in terms of blockchain security. However, this surge may still fuel a Solana price rally as high staking volumes indicate that a majority of tokens are being taken out of the circulating supply, which…
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