Solana Price Prediction as SOL Hits $110 – When Will SOL Reach $500?
SOL has dipped by 1% in the past 24 hours, with the Solana price reducing to $110 as the still-bullish crypto market jumps by another 3% today.
Despite its little wobble, SOL has gained by 5% in the past week and is also up by 14% in the last 30 days.
Its 400% increase in the past year has also made it one of the best-performing major tokens in recent times, and with its momentum remain strong it could easily continue rising in the next few months.
SOL’s momentum is growing again after a disappointing few days last week, with its indicators all pointing to further incoming gains.
Its relative strength index (purple) has risen from 45 nearly a week ago to almost 60 today, with its direction still looking very positive.
SOL’s 30-day moving average (yellow) has also begun rising again, signalling incoming gains after a fairly short-lived dip.
What’s also encouraging is that Solana’s 24-hour trading volume has risen to $3 billion in the past 24 hours, a sign that the market is coming back to it in a substantial way.
That said, traders and investors should be mindful that some whales may take last night’s rise as an opportunity to cash out, with transfer data showing a few big movements to exchanges recently.
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