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coinpedia 2025-01-28 11:13:45

Solana Price Nears $250 Resistance! Is $300 the Next Stop?

Solana Price Nears $250 Resistance! Is $300 the Next Stop?

The post Solana Price Nears $250 Resistance! Is $300 the Next Stop? appeared first on Coinpedia Fintech News The Solana price has successfully retested its important support level, resulting in it surpassing the $240 mark. With this, the Solana token is back under the limelight of top investors and institutes as the crypto market highly anticipates a Solana ETF launch announcement in Q1 2025. Amid such volatility in the cryptocurrency market, will the Solana price maintain its positive inflow and head toward a new ATH in the coming time? In this article, we bring you the possible short-term market trends and Solana price analysis! SOL Coin Price Records Increased Volatility! The price of Solana has jumped over 7% in 24 hours with a trading volume of $8.497 billion. Moreover, this altcoin has added 23.16% over the last 30 days and has a YTD return of +24.16%. This indicates an increase in the bullish sentiment. TradingView: SOL/USDT Considering the long-term prospects, the rising adoption and launch of more fundamentally strong projects in the Solana ecosystem could drive its price toward a new high. Moreover, a fundamentally strong upgrade/improvement in the Solana Network Congestion could also act as a catalyst in the SOL price surge. Solana Technical Sentiments The Simple Moving Average (SMA) has experienced a bearish convergence in the daily time frame. This highlights an increase in the selling-over-buying pressure for the altcoin in the cryptocurrency market. On the other hand, the RSI indicator has maintained its value above the neutral point despite its average trendline recording a negative crossover. This suggests mixed-price action for the 05th largest crypto token by market capitalization this week. Will SOL Price Reach $300? If the Solana price holds its value above its important support level of $237.50, this could result in the Solana price retesting its immediate resistance level of $250. Maintaining the price above that level could set the stage for it to head toward its upper high of $270. However, if the bears outrun the bulls, the SOL coin price could break down its important support trendline and plunge toward its lower support of $210 in the upcoming time. Are you planning on stacking more SOL tokens before the altcoin season kickstarts? Read Solana Price Prediction to explore the possible long-term price prospects! FAQs Can SOL hit $1000? The Solana price can achieve this milestone price of $100 with a surge of 319.93% in its current valuation. How much will 1 Solana be worth in 2025? If the bullish sentiment sustains, the SOL coin price could achieve a high of $400 this year. How much will SOL be worth in 5 years? By the year 2030, the price of Solana could range between $716 and $1,351 if the bullish sentiment sustains. How much is Solana right now? At the time of writing, the value of one SOL crypto token was $238.13 .

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