Ethereum

Flow

Solana

Convergence

Gains

Solana Price Forecast: SOL has seen significant trading activity over the past 24 hours. The bulls and bears are fiercely contesting price levels, which have fluctuated throughout the day. As of the time of writing, the <a href="https://coingape.com/glossary/altcoins/" rel="noopener noreferrer nofollow">altcoin</a> hovered at $140 during European trading hours, making a slight rebound of 2%, according to <a rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/currencies/solana/">CoinMarketCap data</a>.&nbsp;
The trading volume increased notably by 66%, indicating heightened investor interest. The current market capitalization is approximately $65 billion, securing Solana’s position as the fifth-largest cryptocurrency by market cap.&nbsp;
<h2 id="span-style-font-weight-400-solana-price-forecast-will-recent-gains-sustain-span">Solana Price Forecast: Will Recent Gains Sustain?</h2>
Over the past week, Solana’s price experienced a slight downturn, dropping by over 5%. It oscillated between $122 and $150, reflecting typical market adjustments and volatility. A peak was reached, with prices soaring above $154 despite ongoing market corrections.&nbsp;
<figure id="attachment_206512" aria-describedby="caption-attachment-206512" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-206512" src="https://cdn.coingape.com/wp-content/uploads/2024/07/08194215/SOLUSD_2024-07-08_16-09-06.png" alt="Solana Price Forecast As Investment Inflow Hits Record, Can SOL Hit $200 This Summer?" width="1228" height="686" srcset="https://cdn.coingape.com/wp-content/uploads/2024/07/08194215/SOLUSD_2024-07-08_16-09-06.png 1228w, https://cdn.coingape.com/wp-content/uploads/2024/07/08194215/SOLUSD_2024-07-08_16-09-06-300x168.png 300w, https://cdn.coingape.com/wp-content/uploads/2024/07/08194215/SOLUSD_2024-07-08_16-09-06-1224x684.png 1224w, https://cdn.coingape.com/wp-content/uploads/2024/07/08194215/SOLUSD_2024-07-08_16-09-06-768x429.png 768w, https://cdn.coingape.com/wp-content/uploads/2024/07/08194215/SOLUSD_2024-07-08_16-09-06-150x84.png 150w" sizes="(max-width: 1228px) 100vw, 1228px">
 <figcaption id="caption-attachment-206512" class="wp-caption-text">
 Solana Price Forecast
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</figure>
The <a href="https://coingape.com/crypto-with-high-transaction-speed/" rel="noopener noreferrer nofollow">cryptocurrency</a> market is stabilizing, setting the stage for potential gains in Solana’s value. Despite the recent dip, Solana has achieved an impressive annual growth of 543%.
<h2 id="span-style-font-weight-400-investment-shift-solana-outpaces-ethereum-span">Investment Shift: Solana Outpaces Ethereum</h2>
<a href="https://coingape.com/solana-outperforms-ethereum-amid-441m-money-inflow-into-crypto/" rel="noopener noreferrer nofollow">Solana</a> has recently eclipsed Ethereum in terms of investment inflows, securing over $16 million, surpassing Ethereum’s $10 million. According to a <a rel="noopener noreferrer nofollow" href="https://blog.coinshares.com/volume-190-digital-asset-fund-flows-weekly-report-47b8dfbe45c6">CoinShares</a> report, this surge is part of a broader $441 million wave of capital into cryptocurrencies.&nbsp;
This increase in funding, seen as a reaction to recent price drops, presents new buying opportunities. Significantly, the U.S. market has been the main contributor, injecting $384 million into digital assets. This shift underscores a changing landscape in cryptocurrency investment preferences and market dynamics.
<h2 id="span-style-font-weight-400-technical-indicators-suggest-potential-growth-span">Technical Indicators Suggest Potential Growth</h2>
<a href="https://coingape.com/markets/solana-price-prediction-as-market-rebound-can-sol-reach-150-by-end-of-weekend/" rel="noopener noreferrer nofollow">SOL</a> market performance shows promising growth, with expectations that it might overcome the significant resistance level at $150. If this level is breached, it could indicate a positive trend, potentially escalating towards a $160 target. If this momentum continues, Solana could face the crucial $200 resistance point.
Conversely, if bearish pressures intensify, the <a href="https://coingape.com/price-predictions/solana-sol-price-prediction/" rel="noopener noreferrer nofollow">Solana price prediction</a> could retreat to the $135 support level. Any further decline could push it toward the $120 zone, indicating a turn toward a more bearish market sentiment.
The 4-hour technical indicators for the Solana suggest a neutral to mildly bullish sentiment. The Relative Strength Index (RSI) is 54, indicating neither overbought nor oversold conditions. Meanwhile, the Moving Average Convergence Divergence (MACD) shows a slight bullish crossover with the MACD line starting to edge above the signal line, suggesting potential upward momentum.
<figure id="attachment_206514" aria-describedby="caption-attachment-206514" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-206514" src="https://cdn.coingape.com/wp-content/uploads/2024/07/08194405/SOLUSD_2024-07-08_16-00-36.png" alt="Solana Price Forecast As Investment Inflow Hits Record, Can SOL Hit $200 This Summer?" width="1228" height="686" srcset="https://cdn.coingape.com/wp-content/uploads/2024/07/08194405/SOLUSD_2024-07-08_16-00-36.png 1228w, https://cdn.coingape.com/wp-content/uploads/2024/07/08194405/SOLUSD_2024-07-08_16-00-36-300x168.png 300w, https://cdn.coingape.com/wp-content/uploads/2024/07/08194405/SOLUSD_2024-07-08_16-00-36-1224x684.png 1224w, https://cdn.coingape.com/wp-content/uploads/2024/07/08194405/SOLUSD_2024-07-08_16-00-36-768x429.png 768w, https://cdn.coingape.com/wp-content/uploads/2024/07/08194405/SOLUSD_2024-07-08_16-00-36-150x84.png 150w" sizes="(max-width: 1228px) 100vw, 1228px">
 <figcaption id="caption-attachment-206514" class="wp-caption-text">
 Solana Price Forecast| Source: <a rel="noopener noreferrer nofollow" href="https://www.tradingview.com/x/0Qhj0CKK/">TradingView</a>
 </figcaption>
</figure>
The Bollinger Bands on the 4-hour chart for Solana indicate a period of significant volatility, with the price oscillating between the upper and lower bands. Additionally, the Chaikin Money Flow (CMF) indicator has risen to 0.26, indicating increased buying pressure, suggesting a potential upward movement if sustained.
The post <a href="https://coingape.com/markets/solana-price-forecast-as-investment-inflow-hits-record-can-sol-hit-200-this-summer/" rel="noopener noreferrer nofollow">Solana Price Forecast As Investment Inflow Hits Record, Can SOL Hit $200 This Summer?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Solana Price Forecast As Investment Inflow Hits Record, Can SOL Hit $200 This Summer?

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