Ethereum

2024

Solana

Optimism

<ul>
 <li>Despite intraday weakness in the market, Solana (SOL) price maintains optimism, sustaining above the $160 mark.</li>
 <li>Solana has seen a 15% surge over the past 30 days and a market cap of $74.72 billion, indicating a path to recovery.</li>
 <li>The SOL price action near the $160 mark remains crucial, with a bullish comeback potentially breaking above the previous swing high of $200.</li>
</ul>
<p>Despite the intraday weakness in the market, as Bitcoin and Ethereum struggle to maintain their positions, the <a href="https://thenewscrypto.com/?s=Solana" target="_blank" rel="noopener noreferrer nofollow">Solana</a> (<a href="https://thenewscrypto.com/?s=SOL" target="_blank" rel="noopener noreferrer nofollow">SOL</a>) price trend sustains an optimistic outlook. Even with a bearish closing to last week, the SOL price has managed to hold above the crucial $160 mark, offering a bullish perspective.</p>
<p>The weekly chart reveals a rounding reversal from the $120 support zone, indicating a rise in underlying demand. As Solana’s trend reversal gains traction, the question arises: Will SOL cross above the $200 mark and hit the $500 target in 2024? Our SOL price prediction delves into the details.</p>
<h2 class="wp-block-heading" id="h-solana-price-performance-analysis"><strong>Solana Price Performance Analysis</strong></h2>
<p>Solana has experienced a 15% surge over the past 30 days and boasts a market cap of $74.72 billion, signaling a path to recovery. However, last week’s candle shows a higher price rejection due to the broader market slowdown.</p>
<p>Nevertheless, buyers have managed to avoid any bearish continuation this week, with a 2.18% jump in price. Furthermore, Solana sustains above the 61.80% Fibonacci level, presenting a buy-the-dip opportunity before a potential comeback.</p>
<h2 class="wp-block-heading" id="h-will-sol-price-reach-200"><strong>Will SOL Price Reach $200?</strong></h2>
<p>As the broader market anticipates Bitcoin reaching the $100,000 mark, altcoins are expecting an altseason to follow soon. With the altseason approaching, the bull run in Solana is likely to gain momentum, potentially propelling the price beyond the $200 level.</p>
<p>In the short term, however, the SOL price action near the $160 mark remains crucial. A bullish comeback this week could break above the previous swing high of $200, potentially extending the uptrend to reach the $250 peak.</p>
<p>Conversely, a breakdown rally under $160 could lead to a drop towards the $130 support level.</p>

Solana Price Sustains Optimism Amid Market Weakness, Aiming for $500 in 2024

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