{"id":631324,"date":"2024-07-24T13:00:09","date_gmt":"2024-07-24T13:00:09","guid":{"rendered":"https:\/\/www.wncen.com\/?p=631324"},"modified":"2024-07-24T11:08:07","modified_gmt":"2024-07-24T11:08:07","slug":"200-crypto-pundit-solana-price","status":"publish","type":"post","link":"https:\/\/www.wncen.com\/news\/solana\/200-crypto-pundit-solana-price\/","title":{"rendered":"Road To $200: Crypto Pundit Reveals Key Levels To Watch For The Solana Price"},"content":{"rendered":"

Solana (SOL)<\/span><\/a> is currently one of the high-flyers in the crypto market. The crypto token recently recorded one of the most gains following the market-wide rebound. <\/span>Crypto analyst Rekt Capital<\/span><\/a>, however, suggested that the crypto token is just getting started, revealing key levels to watch as Solana eyes higher prices.\u00a0<\/span><\/p>\n

Key Levels To Watch For Solana\u2019s Price<\/h2>\n

In an X (formerly Twitter) <\/span>post<\/span><\/a>, Rekt Capital highlighted $180 and $202 as key price levels to watch for <\/span>Solana\u2019s price<\/span><\/a>. The analyst claimed that a successful retest of the $180 price level as new support could continue an upward trend over time for Solana. SOL could rise above $200 in the short term as it moves further to the upside. However, the <\/span>crypto token<\/span><\/a> would need to break the resistance at $202 as it looks to break its all-time high (ATH) of $260.\u00a0<\/span><\/p>\n

Related Reading: Will Bitcoin Reach A New All-Time High? Crypto Analyst Reveals Why $90,000 Is Possible<\/a><\/div>\n
\"Solana
Source: X<\/figcaption><\/figure>\n

Following the recent market-wide rebound, Solana had risen above $180, a three-month high for the crypto token. Although the crypto token has dropped below this price level again, another rise above $180 will help SOL establish that price range as new support and prime it for <\/span>further moves to the upside<\/span><\/a>. As highlighted by <\/span>Rekt Capital<\/span><\/a>, the $135 and $122 price levels have already been established as solid support for the crypto token.\u00a0<\/span><\/p>\n

Rekt Capital\u2019s analysis follows crypto analyst Ali Martinez\u2019s <\/span>recent prediction<\/span><\/a> that Solana could skyrocket and rise to as high as $1,000. Martinez stated that early signs of a breakout from a bull pennant suggest a potential 900% rally ahead for Solana.\u00a0<\/span><\/p>\n

\"Solana
Source: X<\/figcaption><\/figure>\n

Crypto analyst Javon Marks<\/span><\/a> also offered a bullish prediction for Solana, stating that the crypto token will rise to $233 and then $450. He made this prediction based on SOL\u2019s bullish structure, which he noted also recently confirmed a <\/span>hidden bullish divergence<\/span><\/a>.\u00a0<\/span><\/p>\n

Marks explained that this divergence could send Solana\u2019s price back above $204 and lead to a price rally of over 40% to $233.8 as prices \u201chold broken out of a much larger resisting structure.\u201d The analyst also suggested that this bullish divergence will cause Solana\u2019s price to rise to $450.\u00a0<\/span><\/p>\n

\"Solana
Source: X<\/figcaption><\/figure>\n

Enough Reasons To Be Bullish On Solana<\/h2>\n

There are enough reasons to be bullish on Solana, especially considering how the crypto token has earned the status of being among the \u2018big 3\u2019 alongside <\/span>Bitcoin and Ethereum<\/span><\/a> in <\/span>this bull run<\/span><\/a>. Solana\u2019s dominance in this market cycle is one reason market participants anticipate that a Spot Solana ETF will likely be approved next.\u00a0<\/span><\/p>\n

Solana\u2019s price appears to be reacting to such expectations, with fund issuers VanEck and 21Shares filing to offer <\/span>Spot Solana ETFs<\/span><\/a>. If they eventually launch, these funds could contribute to more parabolic price gains for SOL, considering the <\/span>Spot Bitcoin ETFs’<\/span><\/a> impact on BTC\u2019s price.<\/span><\/p>\n

Related Reading: Dogecoin Falling Wedge Pattern: Crypto Analyst Predicts Breakout To $0.22<\/a><\/div>\n

The steady rise in Solana\u2019s total value locked (TVL) also paints a bullish picture for the crypto token. <\/span>Data<\/span><\/a> from DeFiLlama shows that Solana\u2019s TVL has been rising significantly since the start of the year and has continued to hit new highs. The network\u2019s TVL currently stands at $5.21 billion, the third highest among all chains.\u00a0\u00a0<\/span><\/p>\n

At the time of writing, Solana is trading at around $173, down over 1% in the last 24 hours, according to <\/span>data<\/span><\/a> from CoinMarketCap.<\/span><\/p>\n

\"Solana
SOL price still holding $170 | Source: SOLUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Solana (SOL) is currently one of the high-flyers in the crypto market. The crypto token recently recorded one of the most gains following the market-wide rebound. Crypto analyst Rekt Capital, however, suggested that the crypto token is just getting started, revealing key levels to watch as Solana eyes higher prices.\u00a0 Key Levels To Watch For Solana\u2019s Price In an X (formerly Twitter) post, Rekt Capital highlighted $180 and $202 as key price levels to watch for Solana\u2019s price. The analyst claimed that a successful retest of the $180 price level as new support could continue an upward trend over time for Solana. SOL could rise above $200 in the short term as it moves further to the upside. However, the crypto token would need to break the resistance at $202 as it looks to break its all-time high (ATH) of $260.\u00a0 Related Reading: Will Bitcoin Reach A New All-Time High? Crypto Analyst Reveals Why $90,000 Is Possible Following the recent market-wide rebound, Solana had risen above $180, a three-month high for the crypto token. Although the crypto token has dropped below this price level again, another rise above $180 will help SOL establish that price range as new support and prime it for further moves to the upside. As highlighted by Rekt Capital, the $135 and $122 price levels have already been established as solid support for the crypto token.\u00a0 Rekt Capital\u2019s analysis follows crypto analyst Ali Martinez\u2019s recent prediction that Solana could skyrocket and rise to as high as $1,000. Martinez stated that early signs of a breakout from a bull pennant suggest a potential 900% rally ahead for Solana.\u00a0 Crypto analyst Javon Marks also offered a bullish prediction for Solana, stating that the crypto token will rise to $233 and then $450. He made this prediction based on SOL\u2019s bullish structure, which he noted also recently confirmed a hidden bullish divergence.\u00a0 Marks explained that this divergence could send Solana\u2019s price back above $204 and lead to a price rally of over 40% to $233.8 as prices \u201chold broken out of a much larger resisting structure.\u201d The analyst also suggested that this bullish divergence will cause Solana\u2019s price to rise to $450.\u00a0 Enough Reasons To Be Bullish On Solana There are enough reasons to be bullish on Solana, especially considering how the crypto token has earned the status of being among the \u2018big 3\u2019 alongside Bitcoin and Ethereum in this bull run. Solana\u2019s dominance in this market cycle is one reason market participants anticipate that a Spot Solana ETF will likely be approved next.\u00a0 Solana\u2019s price appears to be reacting to such expectations, with fund issuers VanEck and 21Shares filing to offer Spot Solana ETFs. If they eventually launch, these funds could contribute to more parabolic price gains for SOL, considering the Spot Bitcoin ETFs’ impact on BTC\u2019s price. Related Reading: Dogecoin Falling Wedge Pattern: Crypto Analyst Predicts Breakout To $0.22 The steady rise in Solana\u2019s total value locked (TVL) also paints a bullish picture for the crypto token. Data from DeFiLlama shows that Solana\u2019s TVL has been rising significantly since the start of the year and has continued to hit new highs. The network\u2019s TVL currently stands at $5.21 billion, the third highest among all chains.\u00a0\u00a0 At the time of writing, Solana is trading at around $173, down over 1% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":631336,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84543],"tags":[6664,14690,90652,90653,12837,89406,86420,83626,89405,85361,86410,83627],"class_list":["post-631324","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solana","tag-crypto","tag-crypto-news","tag-crypto-pundit","tag-pundit","tag-sol","tag-sol-news","tag-sol-price","tag-solana","tag-solana-news","tag-solana-price","tag-solusd","tag-solusdt"],"acf":[],"yoast_head":"\nRoad To $200: Crypto Pundit Reveals Key Levels To Watch For The Solana Price<\/title>\n<meta name=\"description\" content=\"Solana is currently one of the high-flyers in the crypto market after recording one of the most gains following the 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