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The Solana price surged 16% in the last week and 2.5% in the past 24 hours to trade at $240.47 as of 02:32 a.m. EST on trading volume that slumped 13% to $10.2 billion.
This follows record-breaking fees and revenues reported by Solana-based apps such as Raydium and Pump.fun.
Solana Price Gearing Up For A Sustained Rally Towards A New ATH
The SOL/USD chart on the 4-hour timeframe displays a clear bullish trend. The Solana price is making higher highs and higher lows, supported by an ascending channel, after the bulls capitalized on the $160 support to propel the price even higher, according to data from GeckoTerminal.
SOL has now crossed above both the 50-day and 200-day Simple Moving Averages (SMAs), which shows that the asset is on a positive trajectory.
The Relative Strength Index (RSI) is approaching the overbought zone (70+), currently at 68. While this suggests strong bullish momentum, it also warns of a potential pullback or consolidation as buying pressure cools down. A further move into the overbought zone without divergence would support continuation to the upside.
Moreover, the Moving Average Convergence Divergence (MACD) supports the bullish prospects, as the blue MACD line crosses above the orange signal line, which indicates growing upward momentum.
If this momentum continues, the Solana price could surge over the rising channel, as the bulls aim to cross the previous all-time high (ATH) of $259, to target a new ATH at $300.
However, as the RSI continues to rise, the asset may soon become overextended, which could signal a potential pullback. In such a case, the price of Solana could go through a correction to the 50-day SMA at $216.
As the Solana price aims for a bullish rally, some investors are turning to presale meme coins like the newly launched Flockerz (FLOCK), which has already surged past $2.2 million in funds raised in presale.
According to 99Bitcoins, an influential crypto channel on YouTube with over 706K subscribers, $FLOCK has the potential to soar 100X after its launch.
A Promising Alternative To Solana
Flockerz (FLOCK) is a presale meme coin aiming to revolutionize the crypto space with its innovative Vote-to-Earn (V2E) mechanism. Put simply, it pays token holders with FLOCK to vote on decisions that will determine the project’s strategy.
In this way, the V2E platform represents a major shift in how meme coins work. Central to its ecosystem is Flocktopia, a decentralized governance framework where $FLOCK holders shape the future of the platform. Each token holder in this DAO can influence crucial decisions.
In the turbulent skies of crypto, it’s all about flying together. Strength in numbers, success in unity—fly with the flock! pic.twitter.com/vPwC75koVx
— Flockerz (@FlockerzToken) October 15, 2024
Another reason investors are flocking to the presale of its native token, $FLOCK, is its mouth-watering staking rewards, currently perched at a dazzling 937% APY.
Investors interested in joining the presale can visit the official Flockerz website to buy FLOCK tokens at the current price of $0.006053 per token using BNB, ETH, or USDT. You can also make a purchase using your bankcard.
Buy before a price hike in about 2 days to secure the best deal.
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