Solana

Momentum

Coin

<p style="text-align: justify">Ethereum, the largest smart contract platform by market value, has numerous competitors. Solana (<a href="https://en.coin-turk.com/solanas-status-and-future-amid-challenges-and-loss-of-institutional-investors/" data-wpel-link="internal" rel="noopener noreferrer nofollow">SOL</a>) is one of the leading ones. After experiencing massive price increases in 2021 with the strong support of FTX, SOL Coin suffered a major setback. However, it managed to rise from the ashes despite the bankruptcy of its biggest supporter.</p>
<h2 style="text-align: justify" id="solana-sol-price">Solana (SOL) Price</h2>
<p style="text-align: justify">At the time of writing, the price of SOL Coin is at $24. Not all altcoins have made new highs like SOL. Despite the price increase of <a href="https://en.coin-turk.com/the-real-impact-of-bitcoin-halving-analyst-puts-an-end-to-the-expected-development/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a>, there are more cryptocurrencies that remain stagnant. The price increase of SOL Coin clearly reflects the ongoing demand.</p>
<p style="text-align: justify">Moreover, a recent report from CoinShares stated that institutions invested over $20 million in SOL Coin funds in just one week. The excessive interest from institutions is also noteworthy for SOL, along with XRP Coin.</p>
<h2 style="text-align: justify" id="sol-coin-analysis">SOL Coin Analysis</h2>
<p style="text-align: justify">The price of SOL Coin has been increasing alongside a long-term rising support trend line since the beginning of 2023. The price bounced off the support line most recently on September 11 and continues to rise. However, the $27 resistance area has become a difficult wall for SOL Coin bulls to overcome. The ascending triangle formed in the resistance area could trigger further price increases.</p>
<p style="text-align: justify"><img decoding="async" class="size-full wp-image-267355 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/10/SOL-Coin-Fiyat-Grafigi.png" alt="" width="1885" height="781"></p>
<p style="text-align: justify">The daily RSI is positive, and the closing prices of BTC above $28,300 are promising. So, what do popular crypto analysts predict? Analyst known as Beastlyorion pointed out the upward momentum of the price and focused on the same formation.</p>
<p style="text-align: justify"><img decoding="async" class="size-full wp-image-267356 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/10/Beastlyorion-SOL-Coin-Yorum.jpeg" alt="" width="2243" height="1175"></p>
<p style="text-align: justify"><a href="https://en.coin-turk.com/how-many-dollars-will-they-be-over-the-weekend-ripple-xrp-ada-coin-and-dogecoin-comment/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Crypto</a> Rand believes that at least a short-term breakout could occur from the resistance area. ShardiB2 emphasized the ongoing bullish momentum with strong daily closings.</p>
<p style="text-align: justify"><img decoding="async" class="size-full wp-image-267357 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/10/Crypto-Rand-SOL-Coin-Tahmin.png" alt="" width="3713" height="1844"></p>
<p style="text-align: justify">Carpe Noctom shared a significant inverse head and shoulders (H&amp;S) formation that has been developing since February.</p>
<p style="text-align: justify"><img decoding="async" loading="lazy" class="size-full wp-image-267358 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/10/Carpe-Noctom-Analiz-SOL-Coin.jpeg" alt="" width="2560" height="1241"></p>
<p style="text-align: justify">The readings on the daily chart indicate that the bulls of SOL Coin are supported by two bullish formations. If the $27 region can be surpassed with all this optimism, the price of SOL Coin could reach $40. However, a failure to test the resistance area could lead to a drop to $20. As long as this support area is preserved, there is hope for a new test.</p>
<div class="sorumluluk_reddi" style="text-align: justify"><strong>Disclaimer:</strong> The information provided in this article does not constitute investment advice. Investors should be aware of the high volatility and associated risks of cryptocurrencies and should conduct their own research before making transactions.
</div> Continue Reading: <a href="https://en.coin-turk.com/solana-sol-price-analysis-will-the-bullish-momentum-continue/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/solana-sol-price-analysis-will-the-bullish-momentum-continue/</a>

Solana (SOL) Price Analysis: Will the Bullish Momentum Continue?

Table of Contents

COINTURK NEWS

Other articles published on Oct 17, 2023

WINkLink (WIN) Price Prediction 2024, 2025, 2030, 2040, and 2050

SOL Price Prediction: Solana Could Surge 20% to $30

Here’s potential Bitcoin price range if spot ETF gets approved

Chainlink Whales Continue Aggressive Accumulation as LINK Surges 30%

Scroll’s zkEVM Mainnet Launch Marks a Milestone in Ethereum Scalability and Efficiency

Price prediction using machine learning for Bitcoin on November 1, 2023

Join our free newsletter for daily crypto updates!