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Solana price forecast: SOL has recently experienced a notable upward movement, marking a significant achievement in its trading performance. In the past 24 hours, the <a href="https://coingape.com/price/solana/" rel="noopener noreferrer nofollow">Solana price</a> has climbed to $111. This represents an impressive gain of more than 9% within a 24-hour window. After a period marked by fluctuations and a stable trend throughout the previous week, this surge positions Solana just above a crucial resistance level at $110.
<h2 id="strong-solana-price-forecast-eyeing-the-130-milestone-after-firm-105-support-strong">Solana Price Forecast: Eyeing the $130 Milestone After Firm $105 Support</h2>
Over the season, Solana has emerged as one of the standout performers in the cryptocurrency market. Despite facing rejection at a horizontal resistance point on February 14, the price of Solana has been relatively stable since the final days of December 2023. This stability has led to a symmetrical triangle pattern on its price chart.
<figure id="attachment_182925" aria-describedby="caption-attachment-182925" style="width: 100%" class="wp-caption aligncenter"><a href="https://coingape.com/wp-content/uploads/2024/02/Solana-price-forecast-e1709058407678.png" rel="noopener noreferrer nofollow"><img decoding="async" class="size-full wp-image-182925" src="https://coingape.com/wp-content/uploads/2024/02/Solana-price-forecast-e1709058407678.png" alt="Solana Price Forecast: SOL Going To $200 Or $80 In March?" width="1200" height="541"></a>
 <figcaption id="caption-attachment-182925" class="wp-caption-text">
 Solana price forecast
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Currently, with a market capitalization of $47.67 billion, Solana stands as the fifth-largest digital currency in terms of market size. Moreover, Solana’s trading volume has experienced an impressive increase, with over 120% rise in the past 24 hours, reaching $3.2 million. This trading activity boost underscores investors’ growing interest and confidence in Solana’s potential.
<h2 id="strong-total-value-locked-indicates-growing-confidence-strong">Total Value Locked Indicates Growing Confidence</h2>
Solana’s Total Value Locked (TVL) has shown signs of recovery, aiming to reach its pre-FTX collapse levels. An analysis from <a rel="noopener noreferrer nofollow" href="https://defillama.com/chain/Solana">DefiLlama</a> highlights Solana’s TVL’s steady rise beginning in October 2023, with notable progress by December 2023.
Starting at a TVL of approximately $350 million, it soared to roughly $1.4 billion by December. However, the TVL has recently slightly receded to about $2.11 billion, indicating a slight gain from its previous day’s momentum.
Amidst a broader cryptocurrency market rally, with <a href="https://coingape.com/price/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> surpassing the $56,000 mark, Solana has also seen significant movements. It reclaimed its critical support level at $107, paving the path for future growth.
If current trends persist, <a href="https://coingape.com/markets/solana-price-prediction-sol-could-rally-to-120-if-bulls-clear-key-barrier/" rel="noopener noreferrer nofollow">Solana</a> could soon approach the $120 level, potentially escalating to $130 with sustained upward momentum. Conversely, a break in this trend might push it down to the $100 support zone, a critical defense against further declines.
<h2 id="strong-solana-price-technical-indicators-suggest-further-upside-strong">Solana Price Technical Indicators Suggest Further Upside</h2>
The Chaikin Money Flow (CMF) index indicates a favorable trend with a 0.03 reading. The Moving Average Convergence Divergence (MACD) shows a bullish trend, marked by its ascent above the signal line. This upward trajectory is underscored by a growing green histogram, indicating a rise in purchasing activities.
<figure id="attachment_182924" aria-describedby="caption-attachment-182924" style="width: 100%" class="wp-caption aligncenter"><a href="https://coingape.com/wp-content/uploads/2024/02/SOLUSD_2024-02-27_21-15-29.png" rel="noopener noreferrer nofollow"><img decoding="async" class="size-full wp-image-182924" src="https://coingape.com/wp-content/uploads/2024/02/SOLUSD_2024-02-27_21-15-29.png" alt="Solana Price Forecast: SOL Going To $200 Or $80 In March?" width="1154" height="622" srcset="https://coingape.com/wp-content/uploads/2024/02/SOLUSD_2024-02-27_21-15-29.png 1154w, https://coingape.com/wp-content/uploads/2024/02/SOLUSD_2024-02-27_21-15-29-300x162.png 300w, https://coingape.com/wp-content/uploads/2024/02/SOLUSD_2024-02-27_21-15-29-768x414.png 768w, https://coingape.com/wp-content/uploads/2024/02/SOLUSD_2024-02-27_21-15-29-150x81.png 150w" sizes="(max-width: 1154px) 100vw, 1154px"></a>
 <figcaption id="caption-attachment-182924" class="wp-caption-text">
 Solana Price Forecast:
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Furthermore, the daily Relative Strength Index (RSI) hovers just over 50, pointing to a market sentiment that is neutral to slightly optimistic. The positioning of the 20 Exponential Moving Average (EMA) over the 50-EMA further supports the anticipation of future gains, painting a rosy picture of Solana’s market performance.
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The post <a href="https://coingape.com/markets/solana-price-forecast-sol-going-to-200-or-80-in-march/" rel="noopener noreferrer nofollow">Solana Price Forecast: SOL Going To $200 Or $80 In March?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Solana Price Forecast: SOL Going To $200 Or $80 In March?

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