Solana

LayerZero

<ul>
 <li>Solana price witnessed an upsurge to $175K on May 18.&nbsp;</li>
 <li>The price hike has pushed the altcoin toward an overbought state in terms of RSI.&nbsp;</li>
 <li>Analysts expect Solana to hit $200 by this month’s end.</li>
</ul>
Solana market price took a bullish turn for the third consecutive day on May 18, finding support at the $170 mark. The upward movement propelled the price above&nbsp; $175 momentarily today, elevating the price to a five week high. Solana price had faced a crucial juncture earlier this week.&nbsp;
The altcoin has shown an increase of 32.33% this month with prices recovering from the $130 level. Solana prices had shown a potential for both a price breakout and breakdown during the week. The recent upsurge indicates the possibility of a bullish victory after the consolidation phase.&nbsp;
<h3 class="wp-block-heading" id="h-solana-24h-price-analysis">Solana 24H Price Analysis</h3>
At the time of writing, SOL is trading at $174 sustaining the upsurge since May 16. It has exhibited a 4.35% increase in the past 24 hours as per data from CMC. Solana’s price hit the crucial $170 mark in the latter hours of May 17. It continued the hike closing in on the $176 range, before sliding down to $174.&nbsp;
Moreover, the crypto asset has exhibited a 4.27% increase in market cap at 78.23B while trading volume in the past 24 hours declined by 21.01% according to CMC <a href="https://coinmarketcap.com/currencies/solana/" target="_blank" rel="noopener noreferrer nofollow">data</a>. Furthermore, the price hike has instigated an overbuy situation in the market with an RSI Index of 74.69.&nbsp;
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img decoding="async" width="1024" height="600" src="https://thenewscrypto.com/wp-content/uploads/2024/05/SOLUSD_2024-05-18_17-04-26-1024x600.png" alt="" class="wp-image-98565" srcset="https://thenewscrypto.com/wp-content/uploads/2024/05/SOLUSD_2024-05-18_17-04-26-1024x600.png 1024w, https://thenewscrypto.com/wp-content/uploads/2024/05/SOLUSD_2024-05-18_17-04-26-300x176.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/05/SOLUSD_2024-05-18_17-04-26-768x450.png 768w, https://thenewscrypto.com/wp-content/uploads/2024/05/SOLUSD_2024-05-18_17-04-26.png 1214w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">Solana 4H Price Chart (Source: <a href="https://in.tradingview.com/symbols/SOLUSD/?exchange=COINBASE" rel="noopener noreferrer nofollow">TradingView</a>)
 </figcaption>
 </figure>
</div>
Zooming out, Solana price performance for the week stands at positive 19.94% according to data from <a href="https://in.tradingview.com/symbols/SOLUSD/?exchange=COINBASE" target="_blank" rel="noopener noreferrer nofollow">Trading Value</a>. The altcoin was trading at market prices of $139 and $140 at the week’s start. Additionally, in the past month, prices had soared to $172 but were followed by strong bearish runs right afterward.&nbsp;
Furthermore, Solana’s prices are <a href="https://thenewscrypto.com/solana-sol-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">predicted</a> by analysts to surge to a yearly high of $750 by 2030. In 2024, <a href="https://thenewscrypto.com/solana-sol-soars-25-in-may-fueled-by-meme-coin-mania/" target="_blank" rel="noopener noreferrer nofollow">Solana</a> is expected to reach a yearly high ranging at the $340 mark and the bearish price is expected to be $83. Additionally, analysts expect that SOL will likely hit $200 by this month’s end.&nbsp;
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Solana Price Witnesses an Upsurge, Reaching a Five-Week High!

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