Solana Price Forecast: SOL Targets $210 if It Breaks Critical Resistance
Simon Chandler is a Brighton-based writer and journalist with over ten years of experience writing about crypto, technology, politics and culture. He has written for Cryptonews.com since late 2017,...
The Solana price has jumped by 4% in the past 24 hours, rising to $153.40 as the crypto market enjoys a day of modest 1% growth.
SOL is up by 3% in a week and by 12% in a month, with the fifth-biggest coin in the market also up by an impressive 590% in a year.
And what’s particularly encouraging is that today’s push has seen the Solana price break through the critical $150 resistance level.
Combined with the market-wide recovery today, this breakthrough suggests that SOL could have begun an end-of-year climb.
SOL’s chart is showing plenty of momentum today, with its indicators suggesting that it’s nearing the peak of a short-term upswing.
Its relative strength index (purple) neared 75 earlier this morning and is still hovering around the 70 market, suggesting that demand is still holding steady.
Meanwhile, SOL’s 30-period moving average (orange) is still climbing strongly after rising above the 200-period average (blue) on Saturday, a sign of a new bullish phase.
As we noted above, it has broken through the critical $150 level, with the coin climbing precipitously this morning on the back of a big order.
Given that the Solana price is still 41% below its all-time high of $259 (set in November 2021), there’s an argument to suggest that a bull rally is long overdue.
Solana continues to be the memecoin hub and is still the same price as it was 7 months ago. Seems like a good setup to me
Its blockchain is now the third-biggest layer-one network in terms of TVL, with its current figure of $6 billion marking a a very big 1,800% rise in a
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