- Solana’s price approaches $200, marking a significant milestone since December 2021.
- Despite recent pullbacks in the crypto market, Solana’s price surged by 16% in 24 hours, reaching $196.
- An analyst predicts a bullish future for Solana, citing its strength compared to Bitcoin and Ethereum.
The remarkable ascent of Solana (SOL) within the cryptocurrency sphere has captured the interest of investors as it approaches the $200 threshold, a milestone untouched since December 2021.
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At present, SOL commands a price of $196, experiencing a noteworthy surge of 16% over the last 24 hours. This surge has catapulted its market capitalization to a remarkable $84.7 billion, surpassing its previous zenith. Although slightly beneath its historical peak, the augmented supply of SOL has played a pivotal role in elevating its market worth.
While many leading cryptocurrencies like Bitcoin and Ethereum have experienced recent pullbacks, SOL has remained resilient, defying the broader market trend. This defiance has led some analysts to believe that SOL is on the brink of a significant breakthrough.
Notably, a respected cryptocurrency analyst has expressed optimism towards SOL, suggesting that a bullish momentum is on the horizon. The analyst asserts that SOL has been steadily accumulating since reaching a low point in January, hinting at a forthcoming surge in its value.
Bluntz Capital’s analysis further reinforces the positive sentiment surrounding SOL, indicating that the cryptocurrency has been undergoing an accumulation phase since its dip below $80 earlier this year. Despite initial setbacks, SOL has demonstrated robust resilience, evidenced by its recent bullish breakout from the ascending channel.
Analysts are confident in SOL’s upward trajectory, signaling the potential culmination of its accumulation phase and an anticipated peak in the near future. Comparative analysis with Bitcoin and Ethereum underscores SOL’s exceptional performance, emphasizing its potential within the current market landscape.
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