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The Solana price prediction renewed the uptrend, surpassing the moving averages to reach the daily high of $190.14.
Solana forecast statistical data:
- Solana Price Now – $190.08
- Solana Market Cap – $88.60 Billion
- Solana circulating supply – 471.02 million
- Total Solana supply – 587.96 million
- Solana Coinmarketcap Ranking – #4
Getting in early on Solana (SOL) has proven to be very rewarding, with the token surging over 37,131% from its all-time low of $0.5052 in May 2020. Currently trading between $164.68 and $188 $.49 over the past 24 hours, Solana has seen remarkable growth, although it remains 27.67% below its all-time high of $260.06 from November 2021. This impressive trajectory highlights the potential gains for early adopters of promising crypto projects.
SOL/USD Market
Key levels:
Resistance Levels: $205, $215, $225
Support Levels: $150, $140, $130
SOL/USD currently highlights recent bullish momentum and outlines key levels to watch. However, anticipation of regulatory changes following the 2024 US elections has contributed to market optimism, particularly for assets like Solana. As SOL/USD approaches $200, this analysis focuses on the potential for further price upside if certain resistance levels are breached. This pattern is supported by recent market conditions, which appear favorable for continued gains if critical support zones are held.
Solana Price Prediction: SOL Bulls Could Favor Upside
According to the chart, SOL/USD broke above the $165 level, making this area a new support zone. The key resistance level now sits at $186, and strong buying interest is required to move past it. A successful crossing of this level would likely allow SOL/USD to target the next significant price zone between $200 and $210. This zone represents a short-term target that, if achieved, would validate the current bullish momentum and further strengthen Solana’s technical setup.
Additionally, the current trend remains favorable for the bulls as supported by technical indicators such as the 9-day moving average remains above the 21-day moving average. However, a successful breakout above the $205 and $215 resistance levels could potentially propel the coin above the $225 resistance level. On the contrary, a bearish move below the lower boundary of the channel could lead to support levels at $150, $140, and $130.
SOL/BTC initiates an upward movement
Compared to Bitcoin, SOL/BTC is consolidating higher, trading above the 9-day and 21-day moving averages. The bulls are actively pushing the price towards the upper boundary of the channel. Any further bullish movement above this barrier could potentially lead the price towards the resistance level at 2700 SAT and above.
However, if SOL/BTC decides to reverse course and follow a downtrend, sliding towards the lower boundary of the channel could lead to a critical support level at 2250 SAT or lower. The 9-day moving average may need to move above the 21-day moving average to indicate potential bullish momentum.
Nonetheless, @AltcoinScholar, a prominent analyst on X (formerly Twitter) with over 183,000 followers, has identified a breakout in $SOL. The immediate target range for this increase should be between $190 and $192.
$ SOL IS EXPLODED!
Immediate target is $190 to $192
LFG @solana pic.twitter.com/CCIvsVOlqw
– Altcoin Scholar (@AltcoinScholar) November 6, 2024
Alternatives to Solana
Solana’s current price maintains its position above the 9-day and 21-day moving averages, following a significant rebound from a low of $166.69. This trend suggests that the bulls are in control of the price action and might be able to push the coin above the upper boundary of the channel. In a related development, Pepe Unchained, positioned as a layer 2 solution, offers a decentralized gateway to a wide range of financial utilities such as trading, bridging and staking, with the aim of building a more comprehensive DeFi ecosystem around from the popular Pepe meme. Meanwhile, the token has raised over $25 million during its ongoing presale phase.
AFTER THE US ELECTIONS, IS PEPE UNCHAINED THE BEST EVEN POCKET TO INVEST IN
Pepe Unchained made a significant impact by raising over $25 million during its pre-sale, demonstrating strong community support and investor confidence. This impressive funding milestone highlights the token’s long-term growth potential as it aims to offer advanced DeFi features such as cross-chain compatibility, staking, and a decentralized exchange. Now is the perfect time to consider investing, as early supporters have the opportunity to be part of this promising project from the start and capitalize on its growth potential.
Visit Pepe Unchained
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