Solana

DeFi

Momentum

Gains

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/solana-gains-investor-confidence-with-potential-breakthrough-to-200" rel="noopener noreferrer nofollow">Solana Gains Investor Confidence with Potential Breakthrough to $200+</a><br></p>
<p style="text-align: justify">A renowned crypto analyst has sparked investor interest in <a href="https://en.bitcoinhaber.net/solana-gains-traction-with-significant-price-increase" rel="noopener noreferrer nofollow">Solana</a> (SOL) with a prediction that could see its value soar past the $200 level, a feat not achieved since November 2021. This forecast comes on the heels of Solana defying a significant sell signal, suggesting a 70% surge may be on the horizon, hinting at a bullish phase before the next dip.</p>
<h2 id="price-momentum-and-market-dynamics">Price Momentum and Market Dynamics</h2>
<p style="text-align: justify">Analyst Ali Martinez has pointed to Solana’s technical indicators, noting the cryptocurrency overcame a crucial sell signal on its daily chart, potentially flipping it into a bullish trend. Enthusiasm builds as SOL punches through the crucial $198 resistance marker, aligning with the possibility of a robust price escalation.</p>
<p style="text-align: justify">Martinez recalls a parallel situation in December last year when Solana witnessed a dramatic 70% price hike following a similar technical pattern. He suggests that Solana is primed to replicate that ascent, with an intact upward trajectory as its price hovers above the $200 benchmark. Martinez anticipates even higher peaks for Solana before the emergence of another cycle of selling pressure.</p>
<h2 id="network-activity-surges-past-ethereum">Network Activity Surges Past Ethereum</h2>
<p style="text-align: justify">Over recent days, the Solana blockchain has outpaced <a href="https://en.bitcoinhaber.net/ethereums-price-dilemma-understanding-the-downward-trend" rel="noopener noreferrer nofollow">Ethereum</a> in network activity, drawing significant attention. This spike is attributed to a rising demand for Solana-based memecoins, particularly the Book of Meme (BOME), which saw its market value skyrocket to $1.45 billion within 56 hours of its launch on March 14th. Alongside this, Solana’s decentralized <a href="https://en.bitcoinhaber.net/financial-expert-robert-kiyosaki-warns-of-impending-hyperinflation-and-urges-investment-in-bitcoin-gold-and-silver" rel="noopener noreferrer nofollow">finance</a> (DeFi) sector has expanded significantly, posting an 80% increase in total value locked (TVL) over the past month, elevating its DeFi TVL to the highest point in two years, now standing at $4.30 billion.</p>
<p style="text-align: justify">Meanwhile, Solana’s price volatility continues to capture headlines. On March 18th, the SOL price climbed by 7.13% to $204, and its market capitalization topped $91.56 billion, although trading volume dipped by 12.17% to $10.74 billion within 24 hours. As a result of the price surge, short sellers faced a wave of liquidations, with $17.67 million worth of positions, $11.77 million of which were shorts, liquidated in the same period.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/solana-gains-investor-confidence-with-potential-breakthrough-to-200" rel="noopener noreferrer nofollow">Solana Gains Investor Confidence with Potential Breakthrough to $200+</a></h5>

Solana Gains Investor Confidence with Potential Breakthrough to $200+

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