Solana Price Prediction as SOL Approaches $80 – $100 Incoming?
The Solana price has risen by 8% in the past 24 hours, with the altcoin’s climb to $78.64 coming as the cryptocurrency market as a whole moves by only 0.4% today.
Today’s jump means that SOL has now gained by 10% in a week and by 33% in the last 30 days, with the token also sitting on a highly impressive 450% increase in the last 12 months.
And with its trading volume remaining high at $3 billion, and with most analysts expecting a bull market next year, SOL could see further gains in the coming weeks and months.
SOL’s chart looks very bullish at the moment, with its indicators pointing to further gains in the short term.
For instance, its RSI (purple) has risen back up to 70 after a few days spent closer to 60, a sign that buying pressure and demand remains strong with SOL.
Perhaps even more bullishly, SOL’s 30-day average (yellow) continues to rise even higher above its 200-day (blue), providing a clear sign that the token remains in a growth phase, with more gains likely.
Other bullish signs come from SOL’s support level (green), which has risen consistently and decisively over the past few weeks, as well as from its 24-hour trading volume.
The latter is currently close to $3 billion, well above the levels it recorded a month ago (around $1.3 billion) and massively above those from 90 days ago ($115 million).
This is a definite indicator of sustained interest in SOL, which continues to attract whales more than any other coins except Bitcoin (BTC) and Ethereum (ETH).
That said, a few supporters of other tokens have begun claiming that SOL will dump in the not-too distant future, given that the FTX Estate is sitting on just over $1 billion in Solana.
Probably some of you are not aware, but Novogratz will eventually dump the FTX
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