Ethereum

2024

Solana

Bitcoin

<p>The post <a href="https://coinpedia.org/price-analysis/sol-price-prediction-will-solana-hit-200-in-q1-2024/" rel="noopener noreferrer nofollow">SOL Price Prediction: Will Solana Hit $200 In Q1 2024?&nbsp;</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>With the ETH/BTC pair at 0.054 BTC, Ethereum is gradually growing strong against Bitcoin. Further, with this recovery, the altcoins are preparing for a comeback rally. Similarly, the SOL price is awaiting a bullish turnaround, with the consolidation present at $95.</p>
<p>Amidst this lazy movement, the <a href="https://coinpedia.org/price-prediction/solana-sol-price-prediction/" rel="noopener noreferrer nofollow">Solana price prediction</a> projects a bullish highway in 2024 for the altcoin.</p>
<p>Further, the Bitcoin price is ready for a massive jump as the “All Cohorts vs Issuance” chart showcases that miners and exchanges have accumulated around 61,000 BTC, worth almost $2.61 Billion.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Past 30 days of all cohorts, miners and exchanges included have accumulated 61,000 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a>. <br><br>When monthly issuance gets cut in half in April to 13,500 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a>. <br><br>If demand stays the same, it outpaces issuance by a factor of 4. <br><br>Market will find an equilibrium most likely… <a href="https://t.co/FZOWsa8AGR" rel="noopener noreferrer nofollow">https://t.co/FZOWsa8AGR</a> <a href="https://t.co/yn4lsF3cPG" rel="noopener noreferrer nofollow">pic.twitter.com/yn4lsF3cPG</a></p>— James Van Straten (@jvs_btc) <a href="https://twitter.com/jvs_btc/status/1754743433967575392?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 6, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>If the demand sustains till Bitcoin Halving, the bull run is inevitable as the markets will find equilibrium at a much higher price.&nbsp;</p>
<h2 class="wp-block-heading" id="h-can-solana-find-a-sunrise-above-100">Can Solana Find A Sunrise Above $100?</h2>
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="464" src="https://image.coinpedia.org/wp-content/uploads/2024/02/06133318/image-41-1024x464.png" alt="" class="wp-image-267334" srcset="https://image.coinpedia.org/wp-content/uploads/2024/02/06133318/image-41-1024x464.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/02/06133318/image-41-300x136.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/02/06133318/image-41-768x348.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/02/06133318/image-41-1536x696.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/02/06133318/image-41-150x68.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/02/06133318/image-41.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>Source – <a href="https://www.tradingview.com/x/Kk01luhx/" rel="noopener noreferrer nofollow">TradingView</a></p>
<p>Breaching the short-term trendline, the Solana price trend completes a successful retest phase and gives lower price rejection candles at the dynamic support trendline. Currently, the SOL price trades at $95, with the intraday candle shaping up as a Doji. Thus, the altcoin remains indecisive at lower levels.</p>
<p>Further, as per the Fibonacci retracement levels, the SOL price is struggling to sustain above the 23.60% level. The recent double top reversal leads to the ongoing sideways track above the 50-day EMA. Hence, the presence of a strong supply above $100 remains a solid opposition for buyers.</p>
<p><strong>Technical Indicators:</strong></p>
<p><strong>RSI Indicator: </strong>The daily RSI line sustains above the halfway line while displaying a minor divergence that teases a bullish comeback for Solana.&nbsp;</p>
<h2 class="wp-block-heading" id="h-will-sol-price-rush-back-to-200">Will SOL Price Rush Back To $200?</h2>
<p>Considering the markets are ready for a pump, the altcoin season could drive the blue-chip coins to a new 52W high. Overall, the uptrend in SOL price depends upon bullish sustenance above the crucial $100 mark and the $125 breakout later.&nbsp;</p>
<p>Sideline traders can find an entry point if the Solana prices pump above the $100 mark. On the downside, the altcoin might retest the $82 mark.&nbsp;</p>

SOL Price Prediction: Will Solana Hit $200 In Q1 2024?

Table of Contents

CoinPedia News

Other articles published on Feb 6, 2024

zkSync Airdrop: Unveiling the Future of Layer 2 Incentives

3 reasons why Bitcoin price is showing strength this week

Bitcoin as a Solution to National Debt Spirals

Ripple (XRP) and Cardano (ADA) Stand Out in $708M ETF Increase

KRYZA Diamond: The NEW Interoperable Swift Chain

South Korea is set to enforce a new regulation requiring crypto companies

Join our free newsletter for daily crypto updates!