The post Will SOL Price Cross $200? appeared on BitcoinEthereumNews.com.

Solana Price Prediction: A healthy retracement may pour more buying orders to prolong the recovery trend. Published 1 hour ago Solana Price Prediction: Amid the current indecisiveness in the crypto market, the Solana price entered a new correction phase after reverting from the 2023 high of $126.36. Within a week, the altcoin’s value dropped 26% to find suitable support at the $96-$100 mark. This support coinciding with the 23.6% Fibonacci Retracement level creates a suitable platform for buyers to regain strength for the next leap. Is Solana Price Heading to $200? The Solana price forms a narrow range above $100 in an attempt to find stability amid correction. With a strong fundamental and technical outlook, the SOL price is likely to surpass the $150 mark. The 24-hour trading volume on the Solana coin is $1.19 Billion, indicating a 19% gain. Solana Price Prediction| TradingView Chart Over the past four months, the Solana (SOL) market performance has been remarkable, witnessing a surge from a mid-September low of around $17.3 to a new high of $126.2. This represents a substantial 626% increase. This surge places Solana as the fifth largest cryptocurrency by market capitalization, currently valued at about $46.2 billion The rebound in Solana’s value can be linked to several key developments within its ecosystem, especially in the decentralized finance (DeFi) sector. Additionally, the emergence of its meme coin, BONK, and the launch of the Solana Saga Phone have played significant roles. These elements have not only enhanced Solana’s visibility but also fostered broader adoption. This has led to an uptick in fundamental network activities, such as an increase in the number of coin holders and greater whale accumulation. Presently, SOL is experiencing a corrective phase, aiming to maintain its value above the crucial support level of $100 and the 23.6% Fibonacci…

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Filed under: News - @ January 1, 2024 6:14 pm