With the Bitcoin price trading at all-time high levels, the altcoins are shining in the crypto sky and teases a solid uptrend. Amidst the recent top performers, the SOL price shoots up the night to reclaim the psychological mark of $150.
Further, with the quick turnaround in a year from the depths of $10 to crossing the $150 mark, Solana showcases immense upside potential. Will this top performer find its way to $250? Well, for such curiosities, check out our SOL price prediction.
Can Solana Price Break Above $158?
With the recent bounce back, the SOL price is crossing beyond the $150 mark, making a new milestone in 2024. Further, the buyers finally assert dominance above the $140 supply zone, projecting a strong uptrend.
Source – TradingView
Further, in the weekly chart, with Solana crossing above $150, the price action signals breakout fo an inverted head and shoulder. This is bullish reversal pattern known for huge breakout rallies, increasing the chances of SOL hitting $250.
Currently, the SOL price trades at $151.77 with an intraday gain of 1.94% and continues the streak of bullish candles. In the last three weeks, the altcoin has increased by 47% and created a triple white soldier pattern.
Technical Indicators:
MACD Indicator: The MACD and signal lines give a bullish crossover, highlighting a trend reversal for Solana. Amidst the ongoing bull run, this crossover bolsters the bullish momentum.
Also Read: AVAX Price Signals Trend Reversal Ready To Touch $100
Will SOL Price Give Massive Gains?
With the price chart showcasing multiple bullish catalysts, Solana is preparing for a massive jump as the market grows. Further, the rising volumes and the breakout events improve the credibility of sideline traders.
As the uptrend crosses above the 50% Fib level, the breakout of $158 will signal an entry spot for sideline traders. With this break, the uptrend can reach out to the previous peak close to $250.