The post Solana Price Analysis: SOL On-chain Sentiments Hint A Breakout Rally? appeared first on Coinpedia Fintech News Story Highlights The SOL price soars over 3% in 24 hours and reclaims the $240 mark. The technical indicators record a mixed price sentiment, highlighting increased price volatility. Sustained bullish action could push the price toward the $300 mark. The Solana price has maintained its 04th position in the crypto market with a monthly surge of over 40%. Moreover, with on-chain sentiments intensifying, the Solana project titled the “Ethereum Killer” seems to be coming to fruition. With the current market sentiment, is this a good time to buy Solana? Read CoinPedia’s Solana price analysis article to uncover the possibilities! SOL Price Hints At a Strong Bullish Reversal! With an intraday jump of 2.64% and a trading volume of $3.604 billion, the Solana price has reclaimed the $240 mark with a 24-hour high of $246.78. Moreover, it is currently trading at a discount of 6.53% from its ATH. TradingView: SOL/USDT The Simple Moving Average (SMA) acts as a resistance to the price chart in the daily time frame. This hints at an increase in the bearish sentiment for the altcoin in the crypto market. The MACD indicator shows a steady rise in the red histogram with its averages recording a bearish crossover, suggesting a bearish outlook for the Solana price in the upcoming month. Will Solana Rise Back Up? If the bulls regain momentum, the SOL coin price will retest its resistance level of $250. Maintaining the price above that level could set the stage for it to head toward its upper high of $300 this year. On the flip side, if a bearish reversal occurs, the Solana token will retest its low of $210. Furthermore, with increased selling pressure, this altcoin may plunge toward its lower support level of $181. Curious to explore if the SOL coin price will hit $500 this crypto bull run? Read CoinPedia’s Solana price prediction article and also subscribe to us to stay updated on the latest crypto news first! FAQs How much is Solana worth today? The SOL coin price is currently exchanging hands at $241.99 with a trading volume of $3.604 billion. Is SOL a buy or sell? With a YTD return of +138.37%, the Solana token is a strong buy for the long-term prospect. Can Solana hit $1000 USD? The SOL token may achieve this price target by the year 2028.
