Solana’s On-Chain Surge: Will It Hit $200 Soon?


The price of Solana has faced significant challenges in recent trading sessions. After struggling to break through the $185 resistance level, Solana entered a decline, mirroring trends seen in Bitcoin and Ethereum. 

The price fell below critical support levels of $180 and $175, ultimately testing the $165 support zone. Given these movements, a Solana price prediction suggests that careful monitoring of resistance and support levels will be crucial for future performance.

Current Price Movement


  • The price of Solana is at $ 165.32 with 24 hours volume of $2,806,943,829 per Coinpedia Markets.
  • Recent Decline: Solana dropped below $172 and is now consolidating losses. It trades under the 23.6% Fibonacci retracement level from the $183 swing high to the $165 low.
  • Resistance Levels: Currently, Solana faces resistance around the $170 mark, with the next major hurdle at $172. Additionally, a key bearish trend line is forming at this level on the hourly chart for the SOL/USD pair.

Potential for Recovery

  • Key Resistance: If Sol coin can successfully close above $175, it may set the stage for further gains, with the next key resistance target at $182. A significant upward movement could even push the price toward $185.
  • On-Chain Activity: Experts have noted an increase in Solana’s on-chain activity, which could act as a catalyst for price appreciation. Trading volume surged from $126.46 million to $163.09 million between October 24 and October 29, peaking at $341.1 million on October 25. This uptick in volume often reflects growing investor interest.

Growing Engagement

  • Transaction Volume and Active Wallets: Solana has experienced a notable increase in transaction volume, rising from 17.4 million to 19.2 million transactions within five days. The number of unique active wallets (UAW) also doubled, soaring from 3.06 million to 6.19 million. Such increases typically indicate heightened investor engagement and interest in Solana.

Future Outlook

Should Solana maintain its current momentum, some analysts suggest the price could reach the lower boundary of the Fair Value Gap (FVG) around $193.69, representing a potential 9% increase from current levels. This optimistic forecast is supported by the Moving Average Convergence Divergence (MACD) indicator, which indicates positive momentum in Solana’s price trajectory.

In conclusion, while Solana has faced challenges recently, the combination of rising trading volumes, increasing transaction activity, and growing engagement from investors suggests a potential rebound. Keep an eye on key resistance levels as Solana attempts to navigate its way back up the charts.

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