Solana's Bullish Momentum: Target Towards $30?

By: Isha Das

Solana (SOL) has witnessed a remarkable stride with a significant surge across the crypto market. SOL is currently trading at approximately $24.39, showing an impressive rally of 14.5% and a seven-day jump of 25.4%. Analysts are closely monitoring SOL's ability to sustain above $22.1 which might lead to another 13% price hike, targeting $26 to $30.[source]

Developers are increasingly attracted to Solana for building decentralised applications(dApps) due to its high throughput and lower transaction fees. The SOL/ETH trading pair is being watched very closely as it signifies SOL’s potential to rival, or even outperform Ethereum in many use-cases. Solana's expanding foothold may drive its market capitalization higher, and could potentially change the competitive landscape within the blockchain domain.[source]

However, with a fresh rally kicking off for Solana, experts are predicting an even brighter future. There has been a steady rise above the $23.20 resistance, with signs of bullish continuation, outpacing Bitcoin and Ethereum. If it manages to surpass $25 resistance, the price could accelerate towards the $27.20 or even $30.[source]