Convergence

Flow

Solana

Value

Divergence

Solana price prediction: SOL has shown remarkable recovery over the past 24 hours after a bullish comeback sparked by significant market enthusiasm. The <a href="https://coingape.com/price/solana/" rel="noopener noreferrer nofollow">SOL price</a> is currently hovering above $139, with more gains anticipated as investor sentiment continues to improve.&nbsp;
As of the time of writing, the altcoin hovered at $139, with a strong surge of over 9% during the US trading hours.&nbsp;
According to <a rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/currencies/solana/">CoinMarketCap data</a>, Solana’s current market cap is $64 billion. This resurgence aligns with recent developments and investor optimism in the cryptocurrency sector, highlighting Solana’s growing appeal among digital asset investors.
<h2 id="span-style-font-weight-400-solana-price-prediction-what-next-after-sol-s-sharp-rebound-span">Solana Price Prediction: What Next After SOL’S Sharp Rebound?</h2>
Solana price saw a modest decline over the past week, falling by more than 1%. The cryptocurrency fluctuated between $122 and $150, hitting its monthly low at $122 before a sharp rebound on Friday. Despite the recent downturn, the market is showing signs of recovery, with Solana poised for further gains.
<figure id="attachment_206268" aria-describedby="caption-attachment-206268" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-206268" src="https://coingape.com/wp-content/uploads/2024/07/SOLUSD_2024-07-06_13-42-00.png" alt="Solana Price Prediction As Market Rebound: Can SOL Reach $150 by End of Weekend?" width="1228" height="649" srcset="https://coingape.com/wp-content/uploads/2024/07/SOLUSD_2024-07-06_13-42-00.png 1228w, https://coingape.com/wp-content/uploads/2024/07/SOLUSD_2024-07-06_13-42-00-300x159.png 300w, https://coingape.com/wp-content/uploads/2024/07/SOLUSD_2024-07-06_13-42-00-1224x647.png 1224w, https://coingape.com/wp-content/uploads/2024/07/SOLUSD_2024-07-06_13-42-00-768x406.png 768w, https://coingape.com/wp-content/uploads/2024/07/SOLUSD_2024-07-06_13-42-00-150x79.png 150w" sizes="(max-width: 1228px) 100vw, 1228px">
 <figcaption id="caption-attachment-206268" class="wp-caption-text">
 Solana Price Prediction
 </figcaption>
</figure>
In broader market news, major cryptocurrencies, including <a href="https://coingape.com/price/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a>, Ethereum, and Dogecoin, have recorded increases of 4%, 3%, and 12%, respectively, in the past 24 hours. This resurgence has also sparked interest in the <a href="https://coingape.com/top-solana-memecoins/" rel="noopener noreferrer nofollow">Solana-based meme coin</a>, Dogwifhat, which has soared by over 23% during the same timeframe. This suggests a growing momentum in the market as participants rally around these digital assets.
<h2 id="span-style-font-weight-400-increased-tvl-and-active-addresses-span">Increased TVL and Active Addresses</h2>
According to <a rel="noopener noreferrer nofollow" href="https://defillama.com/chain/Solana">DeFiLlama</a>, Solana is currently experiencing a strong bullish trend in the cryptocurrency market. The Total Value Locked (TVL) in Solana has reached a remarkable $4 billion, signaling robust growth and increased investor confidence.
Additionally, <a href="https://coingape.com/markets/solana-price-prediction-defi-tvl-growth-fueling-sols-climb-to-180" rel="noopener noreferrer nofollow">Solana</a> has reported significant activity, with over 842 million active addresses engaging on the network within the same timeframe. The platform’s utility is also evident from its generated revenue of $516 million and fees amounting to $1 million in the last 24 hours.
<h2 id="span-style-font-weight-400-technical-indicators-and-future-predictions-span">Technical Indicators and Future Predictions​​</h2>
With the current market recovery gaining strength, forecasts suggest <a href="https://coingape.com/price-predictions/solana-sol-price-prediction/" rel="noopener noreferrer nofollow">Solana price prediction </a>could surpass the key resistance level at $130. This breach might signal an upswing in bullish behavior, setting sights on a $150 target. Solana may challenge the important $180 resistance mark if the upward trend holds.
On the other hand, increasing bearish dynamics could force Solana to regress, seeking support at the $130 level. A further drop might bring it down to the $120 support zone, reflecting a shift to a bearish market outlook.
The daily technical indicators for Solana show a slight market rebound, as reflected in the latest data from the chart. The Moving Average Convergence Divergence (MACD) shows a slight market surge. The MACD line shows a slight positive divergence from its signal line, hinting at potential bullish momentum in the near term.&nbsp;
<figure id="attachment_206267" aria-describedby="caption-attachment-206267" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-206267" src="https://coingape.com/wp-content/uploads/2024/07/SOLUSD_2024-07-06_12-53-19.png" alt="Solana Price Prediction As Market Rebound: Can SOL Reach $150 by End of Weekend?" width="1228" height="649" srcset="https://coingape.com/wp-content/uploads/2024/07/SOLUSD_2024-07-06_12-53-19.png 1228w, https://coingape.com/wp-content/uploads/2024/07/SOLUSD_2024-07-06_12-53-19-300x159.png 300w, https://coingape.com/wp-content/uploads/2024/07/SOLUSD_2024-07-06_12-53-19-1224x647.png 1224w, https://coingape.com/wp-content/uploads/2024/07/SOLUSD_2024-07-06_12-53-19-768x406.png 768w, https://coingape.com/wp-content/uploads/2024/07/SOLUSD_2024-07-06_12-53-19-150x79.png 150w" sizes="(max-width: 1228px) 100vw, 1228px">
 <figcaption id="caption-attachment-206267" class="wp-caption-text">
 Solana Price Prediction| Source: <a rel="noopener noreferrer nofollow" href="https://www.tradingview.com/x/p8itGbVf/">TradingView</a>
 </figcaption>
</figure>
The <a href="https://coingape.com/glossary/rsi-relative-strength-index" rel="noopener noreferrer nofollow">Relative Strength Index</a> (RSI) stands at 47. This figure indicates that Solana is neither overbought nor oversold, providing a stable market condition that might appeal to short-term traders.&nbsp;
The Awesome Oscillator (AO) indicator currently sits at -7.26, hinting at underlying bearish pressures, while the Chaikin Money Flow (CMF) indicates a slightly positive value at 0.04, suggesting an inflow of capital into the market.
The post <a href="https://coingape.com/markets/solana-price-prediction-as-market-rebound-can-sol-reach-150-by-end-of-weekend/" rel="noopener noreferrer nofollow">Solana Price Prediction As Market Rebound: Can SOL Reach $150 by End of Weekend?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Solana Price Prediction As Market Rebound: Can SOL Reach $150 by End of Weekend?

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