Solana Price Sets New ATH on Coinbase Amid ETF Applications

Solana’s price jumped 8% in the past 24 hours to trade at $240.47 as of 11:40 a.m. EST on trading volume that jumped 53% to $10.9 billion.

It comes like SOL reached a new ATH of $264.31 on Coinbase. Momentum behind the asset was boosted by filings this week from Bitwise, VanEck, 21Shares and Canary Capital to issue Solana spot ETFs (exchange-traded funds).

Solana’s popularity has also been driven by a new surge in coin mania that promises revenue growth for its Pump.fun coin launch platform.

Solana Price aims for sustained rally

Solana price has been in an uptrend since October, after the bulls took control of the asset around the $160 support zone, according to data from GeckoTerminal. The momentum picked up in November, with the price climbing even higher, recording higher highs and higher lows, forming an ascending channel pattern.

XRP remained above the 50-day and 200-day simple moving averages (SMA) due to the uptrend.

The Relative Strength Index (RSI) at 71 is currently in the overbought zone (above 70), suggesting that the asset may be overextended in the near term. Overbought levels of the RSI often lead to a pullback or consolidation, but in strong uptrends, the RSI can remain overbought for extended periods of time.

The MACD line (1.97) is above the signal line (0.98) and in positive territory, indicating bullish momentum. The histogram is green and increasing, showing that the bullish momentum is strengthening. However, the MACD is not excessively high, meaning there could still be room for upward movement before a possible reversal.

If the upward trajectory continues, the bulls could push Solana price towards a new all-time high (ATH), as they are targeting $300.

However, with the RSI now oversold, Solana price could undergo a correction towards the $231 support zone (50-day SMA).

Meanwhile, investors are rushing to buy the newly launched meme coin. CatSlap (SLAP)which went parabolic after its listing yesterday.

According to ClayBro, a prominent crypto analyst with over 131,000 followers, CatSlap could be the next meme coin to rise 50x.

New Memecoin CatSlap Skyrockets 2000% – Best Crypto to Buy Now?

CatSlap Token is a new meme coin that comes with an addictive online slap game.

SLAP had a fair launch directly on DEX yesterday and has already soared over 2,000%. Expectations of massive growth have been fueled by a strong marketing push and tie-ups with prominent crypto wallet Best Wallet.

Its market capitalization has already reached almost $20 million, it has a multi-platform community of 1,800 people, and has accumulated 1,448 DEX transactions after amassing over 900 holders.

A partnership agreement with Best Wallet, one of the fastest growing next-generation crypto wallets, gives it immediate exposure to a community of 60,000 people.

We cook. Staking is now live, all purchases on the website will be staked for 7 days at 40% APY. Early unlock by burning 🔥🔥 pic.twitter.com/ZIUK9pd3sZ

– CatSlap (@CatSlapToken) November 21, 2024

Positioned to capitalize on the booming trend for cat-themed coins, it aims to compete with an industry leader like Popcat in take advantage of its game mechanics to engage its community.

You also have the opportunity to earn passively through the project’s staking mechanism, which offers an annual percentage yield (APY) of 40%. Tokens are locked for 90 days, with the option to opt out early. Withdrawal before 90 days burns part of your tokens, and therefore reduces selling pressure.

$SLAP is currently valued at $0.002104 per token. After its explosive debut, rumors are already flying that the token could snare a highly coveted listing from Coinbase or Binance. When PEPE successfully listed on Coinbase and Robinhood last week, its price went parabolic.

You can buy CatSlap Token on its official website or on Best wallet via its “Upcoming Tokens” section.

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