Will SOL break above $152 soon?


As of October 8, 2024, Solana (SOL) is demonstrating signs of consolidation following a period of substantial growth. The SOL/USD pair is currently trading around $145, having recently pulled back from a high of $152. Despite this minor decline, the overall trend remains bullish, with key support levels established at $140 and $142. This sets the stage for an intriguing Solana price prediction as we analyze market trends and potential movements.

Current Technical Analysis

Key Indicators



  • Short-term Trend: The price is hovering near the 100-hour simple moving average, indicating a neutral short-term trend.
  • Trend Line: A significant bullish trend line was broken with support at $149, suggesting some bearish pressure.
  • Resistance Levels: Immediate resistance is observed at $146.50, with major resistance points at $150 and $152.

Price Predictions

  • Bullish Scenario: Analysts predict that a successful break above $152 could lead to a rally towards $160 or even $172.
  • Bearish Scenario: Conversely, a drop below the critical $140 support level may trigger a decline towards $132 or possibly $120.
Also Read: SafeMoon V2 Price Prediction 2024, 2025: Is SFM A Good Investment For 2024?

Solana’s Growing Ecosystem

Solana has positioned itself as a leading blockchain, known for its high-speed and low-cost transfers. The increasing number of developers and the growing array of applications deployed on its network bolster the belief among investment analysts that SOL’s price will continue its upward trajectory.

Unshakeable Support

The robust support at $120 instills confidence in investors, suggesting that Solana is far from the end of its upward movement. This foundation allows SOL to recover from its recent trading price of $156.88, with some analysts projecting it could reach $600 by 2025. The buzz surrounding Solana is largely due to its efficient network, which rivals Ethereum, but offers cheaper and faster transactions.

Recent Developments

During the first week of October, Solana’s ecosystem recorded notable progress, adding 10.7% in value over the first seven days, along with 8.5k development activity events. However, it’s worth noting that 26% of Solana seed startups from 2022 have already failed, a significant figure compared to just 11% from the 2021 cohort. This higher failure rate may seem concerning, but it reflects a common trend in the venture capital world.

Expert Insights

Lucid Ventures co-founder Meta emphasized that a high failure rate is standard in the venture capital industry, stating, “It’s standard for many projects to fail.” This perspective suggests that Solana's challenges are not unique but rather part of a broader trend in the startup landscape.

In summary, despite recent price fluctuations, Solana remains a strong contender in the blockchain space. With significant developments and a committed developer community, the bullish outlook for SOL seems promising. Investors should watch key support and resistance levels closely, as the price action in the coming weeks will be critical in determining the future trajectory of Solana.

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