Solana Price Prediction as Daily Trading Volume Blasts Past $8 Billion – Is the Supercycle Here?

cryptonews.com:

SOL has jumped by 15% in the past 24 hours, with the Solana price racing to $130 as Bitcoin ETF volumes continue to push the cryptocurrency market from one bullish peak to another.

Solana has now rallied by 23% in the past week and by 25% in the last 30 days, with the altcoin also posting a 480% expansion in the past year.

Its 24-hour trading volume has also rocketed past $8 billion today, as intensifying bullishness and FOMO goad investors into pumping more money into crypto.

And with Solana having some of the strongest fundamentals in the market, it could continue riding the bull market’s wave for some time to come.

SOL has pounced to its highest level since April 2022, and it shows in the coin’s chart and indicators.

Its relative strength index (purple) has catapulted to 70, showing very strong momentum while also providing some more time for further gains (before it enters overbought territory).

Similarly, its 30-day moving (yellow) has begun rising more aggressively, shooting even further above its 200-day (blue), which we can see only at the very bottom of the chart above.

With the current Solana price also shooting above the 30-day itself, it’s clear that the coin is in the middle of a marked breakout.

This is also evident in its trading volume, which has risen by roughly 700% in the past three days.

Clearly, this isn’t a typical short-lived bounce, with the entire market going through a surge in volume and price.

As noted above, the rapidly growing popularity of Bitcoin ETFs is largely responsible for the ongoing rally, and with the next Bitcoin halving (due April) also stoking excitement, things could continue ramping up for a while yet.

It’s also in the this context that Solana continues to grow healthily as a blockchain