Cryptocurrency

Solana

Bitcoin ETF

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 <p class="paragraph">With January bringing a mixed bag of gains and losses for the cryptocurrency market, Solana (SOL) has held steady and established a new support zone that could propel it toward its previously all-time high levels.</p>
 <p class="paragraph">Solana experienced a breakout from a bull flag formation, which is evident on the 4-hour chart. A sustained closure above the $106 threshold could initiate a significant 47% rally, propelling the SOL token toward the price range of $150 to $165, which crypto analyst Ali Martinez reminded investors of in his post on X on January 16, suggesting it is only a matter of time ‘tick-tock.’</p>
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    <p lang="en" dir="ltr">tick-tock ️ https://t.co/HdZ8lf8IPf</p>— Ali (@ali_charts) January 16, 2024
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 <p class="paragraph">Per the expert, it seems that technical and fundamental indicators are tilting towards Solana’s continued gains, which look set to extend into the following months of 2024.</p>
 <h2 class="wp-block-heading" id="h-analysts-and-indicators-concur">Analysts and indicators concur</h2>
 <p class="paragraph">With the decisive accumulation phase at the $100 threshold for Solana, it seems that this digital asset is gearing up for a substantial surge in the future.<br>Despite another rejection, there are indications that SOL is poised for an imminent breakout. The prospects for February appear promising, according to cryptocurrency expert <em>Jelle’s</em> post on January 17.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="589" src="https://cdn.thebittimes.com/images/2024/01/17/20b01fab5f9e135bca1c9f6f368eca6f.webp" alt="Solana's potential price range post-rejection. Source: Jelle" class="wp-image-149617" srcset="https://cdn.thebittimes.com/images/2024/01/17/20b01fab5f9e135bca1c9f6f368eca6f.webp 1024w, https://cdn.thebittimes.com/images/2024/01/17/20b01fab5f9e135bca1c9f6f368eca6f.webp 300w, https://cdn.thebittimes.com/images/2024/01/17/20b01fab5f9e135bca1c9f6f368eca6f.webp 768w, https://cdn.thebittimes.com/images/2024/01/17/20b01fab5f9e135bca1c9f6f368eca6f.webp 1536w, https://cdn.thebittimes.com/images/2024/01/17/20b01fab5f9e135bca1c9f6f368eca6f.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Solana’s potential price range post-rejection. Source: Jelle
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 <p class="paragraph">Furthermore, in December, the blockchain platform Solana demonstrated remarkable performance by surpassing all other chains in monthly active addresses, registering an impressive 98% surge, as reported by <em>Nansen</em> on January 1.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="576" src="https://cdn.thebittimes.com/images/2024/01/17/2c2455e109c229dda4a54d13ccd40f38.webp" alt="Solana blockchain active addresses performance. Source: Nansen" class="wp-image-149618" srcset="https://cdn.thebittimes.com/images/2024/01/17/2c2455e109c229dda4a54d13ccd40f38.webp 1024w, https://cdn.thebittimes.com/images/2024/01/17/2c2455e109c229dda4a54d13ccd40f38.webp 300w, https://cdn.thebittimes.com/images/2024/01/17/2c2455e109c229dda4a54d13ccd40f38.webp 768w, https://cdn.thebittimes.com/images/2024/01/17/2c2455e109c229dda4a54d13ccd40f38.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Solana blockchain active addresses performance. Source: Nansen
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 <p class="paragraph">With significant backing from users and strong technicals, Solana displays most indicators analysts look for when predicting potential price movements.</p>
 <h2 class="wp-block-heading" id="solana-price-analysis">Solana price analysis</h2>
 <p class="paragraph">At the time of press, Solana is trading at $101.45, with an increase of 5.15% in the last 24 hours, while also gaining 7.61% in the previous week and 40.78% in the last 30 days.</p>
 <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="683" src="https://cdn.thebittimes.com/images/2024/01/17/144e671d7b2d056e3ce1131f81fd1496.webp" alt="SOL 24-hour price chart. Source: Finbold" class="wp-image-149619" srcset="https://cdn.thebittimes.com/images/2024/01/17/144e671d7b2d056e3ce1131f81fd1496.webp 1024w, https://cdn.thebittimes.com/images/2024/01/17/144e671d7b2d056e3ce1131f81fd1496.webp 300w, https://cdn.thebittimes.com/images/2024/01/17/144e671d7b2d056e3ce1131f81fd1496.webp 768w, https://cdn.thebittimes.com/images/2024/01/17/144e671d7b2d056e3ce1131f81fd1496.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
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   SOL 24-hour price chart. Source: Finbold
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 <p class="paragraph">Technical indicators are bullish on Solana, as they move towards a ‘strong buy’ at 17 while moving averages agree with a ‘strong buy’ at 14. Oscillators portray a ‘buy’ signal at 3.</p>
 <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="247" src="https://cdn.thebittimes.com/images/2024/01/17/8f12c5461965154159a01732fee16fd8.webp" alt="Technical indicators for Solana. Source: TradingView" class="wp-image-149620" srcset="https://cdn.thebittimes.com/images/2024/01/17/8f12c5461965154159a01732fee16fd8.webp 1024w, https://cdn.thebittimes.com/images/2024/01/17/8f12c5461965154159a01732fee16fd8.webp 300w, https://cdn.thebittimes.com/images/2024/01/17/8f12c5461965154159a01732fee16fd8.webp 768w, https://cdn.thebittimes.com/images/2024/01/17/8f12c5461965154159a01732fee16fd8.webp 1502w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Technical indicators for Solana. Source: TradingView
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 <p class="paragraph">With all the indicators working in Solana’s favor, it remains to be seen whether this crypto can attain the threshold of $150 and then move toward $200, potentially surpassing its all-time high.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/can-solana-reach-200-in-2024-tbt76859.html">https://thebittimes.com/can-solana-reach-200-in-2024-tbt76859.html</a></p>

Can Solana reach $200 in 2024?

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