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The post <a href="https://coinpedia.org/price-analysis/sol-price-rally-ready-to-surpass-200-this-week/">SOL Price Rally Ready To Surpass $200 This Week!</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
Despite the intraday weakness in the market, as Bitcoin and Ethereum struggle, the Solana price trend sustains optimism. Despite a bearish closing to last week, the SOL price sustains above the $160 mark and offers a bullish outlook.&nbsp; 
With a rounding reversal in the weekly chart from the $120 support zone, the underlying demand is on the rise. Will Solana trend reversal cross above $200 to hit the $500 mark in 2024? Find out more in our <a href="https://coinpedia.org/price-prediction/solana-sol-price-prediction/">SOL price prediction</a>.&nbsp; 
<h2 class="wp-block-heading" id="h-solana-price-performance">Solana Price Performance</h2> 
With a 15% surge over the past 30 days and a market cap of $74.72 Billion, Solana, the fifth biggest cryptocurrency, is on the path to recovery. However, the last week’s candle shows a higher price rejection due to the broader market slowdown.&nbsp; 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/90EiJs1K4_wLfw_qQMOaHBK4uU5z9Y_Csv4LWKEVAsK4Pz1lbe4H0c4YOhvj1oG7xBGnx14oBmd1BM3Ruy6soVrObkPoVSZx_8argSVVt6lGQuRnpAN3UBzbYsGua8B73khHUH6d1TPjmMCNVxn-xQM" alt="">
</figure> 
<a href="https://www.tradingview.com/x/qy210CIK/">TradingView</a> 
Nevertheless, the buyers have managed to avoid any bearish continuation this week, for now, with a 2.18% jump. Further, Solana sustains above the 61.80% Fibonacci level, offering a buy-the-dip opportunity before a comeback.&nbsp; 
Further, the altcoin trades at $167 with an intraday drop of 1.71%, reflecting a minor pullback. Hence, a downfall under the $160 mark will dent Solana’s comeback chances, resulting in further corrections.&nbsp; 
Technical Indicators: 
MACD: The MACD and signal lines are on the verge of a bullish crossover in the weekly chart. Further, the declining intensity of the bearish histograms bolsters the bullish team.&nbsp; 
<h2 class="wp-block-heading" id="h-will-the-sol-price-reach-200">Will The SOL Price Reach $200?</h2> 
With the broader market anticipating Bitcoin reaching the $100,000 mark, altcoins expect an altseason soon. As the altseason inches closer, the bull run in Solana will gain momentum for a jump beyond $200. 
However, in the short term, the SOL price action near the $160 mark remains crucial. A bullish comeback this week could break above the previous swing high of $200. This will potentially extend the uptrend to reach the $250 peak. 
Conversely, a breakdown rally under $160 could hit the $130 support level.&nbsp;

SOL Price Rally Ready To Surpass $200 This Week!

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