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The Solana price prediction is slightly bullish as the market prepares to push the coin above the 21-day moving average.
Solana Prediction Statistics Data:
- Solana price now – $138.62
- Solana market cap – $65.2 billion
- Solana circulating supply – 468.1 million
- Solana total supply – 584.4 million
- Solana Coinmarketcap ranking – #5
When it comes to crypto projects, getting involved early can lead to substantial rewards, and Solana (SOL) is a great example. Since its all-time low of just $0.5052 on May 11, 2020, it has skyrocketed by an impressive 27,479.65%. This meteoric rise shows the massive potential of early adoption in the crypto space. Even though it’s currently trading between $131.86 and $139.46, its all-time high of $260.06, reached on November 6, 2021, highlights the incredible journey this token has undergone. Staying informed about such price movements can be key to timing the market effectively.
SOL/USD Market
Key Levels:
Resistance levels: $170, $180, $190
Support levels: $100, $90, $80
SOL/USD currently exhibits mixed market performance, with some positive fundamentals offset by areas of weakness. While daily active addresses and transactions are showing strength, important metrics such as decentralized exchange (DEX) trading volumes and total value locked (TVL) remain weak. This lack of strong fundamental growth is also evident in the price action, as Solana struggles to match Bitcoin’s recent bullish momentum.
Solana Price Prediction: SOL/USD May Cross Above $139
The Solana price is likely to head toward the upper boundary of the channel as the coin begins a slight increase above the opening of today’s trading at $136.16. However, the key support for Solana has been established around the $131 level, a historically strong area, reinforced by a recent liquidation spike that often signals a market bottom. The price has since rebounded to $131, maintaining its support despite bearish sentiment. Holding this level is essential for further bullish developments.
Moreover, on the resistance side, Solana is facing a critical level at $139. Breaking above this resistance could trigger a move toward $140 – $145. A sustained rally past this point could open up higher targets, such as $150 and $160, but this would require a solid push of momentum. Therefore, should in case the price breaks above the $165 level, the resistance levels of $170, $180, and $190 could be reached. Meanwhile, any bearish slide below the lower boundary of the channel may hit the supports at $100, $90, and $80 while the 9-day MA may cross above the 21-day MA.
SOL/BTC Could Face the South
Against Bitcoin, the Solana price is currently changing hands at 2295 SAT below the 9-day and 21-day moving averages. However, if the coin crosses above this barrier, the Solana price could face additional resistance toward the upper boundary of the channel to hit the resistance level of 2700 SAT and above.
In the meantime, if the bears bring the price below the lower boundary of the channel, the market may begin a downtrend and a further bearish move could touch the support level of 2000 SAT and below while the 9-day moving average remains below the 21-day moving average, suggesting bearish movement.
Meanwhile, @CryptoJelleNL, in a message to his 91k+ followers on X (formerly Twitter), pointed out that despite significant losses across the broader market, $SOL continues to maintain its position above the same support level it has held since April. He hinted that there seems to be strong support preventing the coin from dropping further.
While the rest of the market has lost a lot of ground, $SOL still holds above the same support level it has held since April this year.
Someone does not want this coin to go down. pic.twitter.com/kolINVbCv9
— Jelle (@CryptoJelleNL) September 9, 2024
Solana Alternatives
Solana’s price action is closely linked to Bitcoin’s performance, and while Bitcoin has been bullish, Solana has underperformed in comparison. Historically, Solana outperforms Bitcoin in strong market conditions, but there are no clear indications of this happening currently, with a stable and bullish Bitcoin likely needed for Solana to break higher. In contrast, Pepe Unchained is distinguishing itself with technological advancements, developing a Layer 2 blockchain for meme coins that offers faster transactions, lower fees, and instant bridging with Ethereum. Having raised over $13 million, Pepe Unchained is gaining attention in the meme coin space ahead of an anticipated bull market, with price predictions speculating a potential 100x increase.
Pepe Unchained Crosses Major Milestone As Demand Is Surging
Moreover, the token has raised over $13 million in its ongoing presale, offering a unique blend of speculative growth and real-world utility. With a fast-growing community and increasing market traction, it presents a valuable opportunity for investors aiming to take advantage of the next bull market. Seize the chance to invest early and position yourself for potential long-term gains.
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