{"id":599912,"date":"2024-11-18T12:52:12","date_gmt":"2024-11-18T12:52:12","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=599912"},"modified":"2024-11-18T12:52:12","modified_gmt":"2024-11-18T12:52:12","slug":"solana-price-prediction-sol-pumps-16-in-a-week-as-analysts-say-consider-this-ico-with-937-staking-apy","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/solana-price-prediction-sol-pumps-16-in-a-week-as-analysts-say-consider-this-ico-with-937-staking-apy","title":{"rendered":"Solana Price Prediction: SOL Pumps 16% In A Week As Analysts Say Consider This ICO With 937% Staking APY"},"content":{"rendered":"

The Solana price surged 16% in the last week and 2.5% in the past 24 hours <\/span>to trade at $240.47<\/span><\/a> as of 02:32 a.m. EST on trading volume that slumped 13% to $10.2 billion.<\/span><\/p>\n

This follows record-breaking fees and revenues reported by Solana-based apps<\/a> such as Raydium and Pump.fun.<\/span><\/p>\n

Solana Price Gearing Up For A Sustained Rally Towards A New ATH<\/b><\/h2>\n

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.<\/span><\/p>\n

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.<\/span><\/p>\n

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.<\/span><\/p>\n

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.<\/span><\/p>\n

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.<\/span><\/p>\n

\"Solana
SOLUSD Chart Analysis Source: GeckoTerminal<\/figcaption><\/figure>\n

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.<\/span><\/p>\n

As the Solana price aims for a bullish rally, some investors are turning to presale meme coins like the newly launched <\/span>Flockerz (FLOCK)<\/span><\/a>, which has already surged past $2.2 million in funds raised in presale.<\/span><\/p>\n

According to 99Bitcoins, an influential crypto channel on YouTube with over 706K subscribers, $FLOCK has the potential to soar 100X after its launch.<\/span><\/p>\n