The market’s baseline Solana price prediction has improved dramatically this week as the token rose above $200 for the first time since February.
In the past 30 days, SOL has accumulated gains of nearly 28% as altcoin season has officially kicked off.
Ethereum (ETH), Solana’s top rival, has surged near $5,000 as well, confirming that capital could now be rotating toward altcoins. Meanwhile, the combined market cap of cryptocurrencies has exploded to $4.2 trillion.
The REX-Osprey Solana + Staking ETF (SOL) has seen its asset under management (AUM) rise to $182 million. As the American session begins, FOMO could take over, and investors could pile into this regulated vehicle to get exposure to the token.
If that happens, we could see strong buying pressure that could propel SOL to $250 or beyond.
Trading volumes in the past 24 hours have reached $13 billion and currently account for nearly 13% of SOL’s circulating supply.
The last time that volumes surpassed $10 billion, SOL rose above the $200 mark as well. Hence, the necessary liquidity is already present to support a bullish Solana price prediction.
Solana Price Prediction: Mild Pullback to $190 Could Ignite a Rally Toward $500
The daily chart shows that there has been some selling pressure for SOL once it hit the $206 resistance from July 23.
Traders could be cashing out of their long positions at this point and this could be an opportunity for late buyers to scoop up the token at a lower price before the next leg up.
We could expect a move toward the $190 area in the near term and a big bounce off that level that propels SOL to its nearest all-time high of $294 and then to much higher ground to around $500.
This means a 180% upside potential for the token within the next 3 to 6 months. A $1,000 target for SOL is definitely possible. However, the most plausible near-term target would be $500 as the market will need some additional catalysts to move past that mark.
The beginning of altcoin season could also kick off a big rally across meme coins. One of the hottest crypto presales of the year, Token6900 (T6900) has already benefited from this wave of positive momentum as it has raised more than $2 million in just a few weeks.
Token6900 (T6900) Capitalizes on Market Rally with The Help of Some 2000s Nostalgia
Token6900 (T6900) is what the market sends back after staring at charts for too long. It is a meme coin in its purest form, no roadmaps, no promises, no incentives. This token is only fueled by “vibe liquidity”.
Community-centered meme coins have always outperformed their peers. Token6900 is the response to the rallying cry of a generation that has seen banks being bailed out, massive money printing, and rock-bottom interest rates that only helped the 1%.
You can take a stand now. Believe in something that can finally help you break the cycle and get you out of your 9-to-5 job.
Token6900 is available at a discounted presale price of $0.00695 and it is hard-capped at $5 million so early believers will be the ones to benefit the most.
To buy $T6900, simply head to the Token6900 website and connect your wallet (e.g. Best Wallet). You can either swap USDT or ETH for this token or use a bank card to invest.
Click Here to Participate in the PresaleThe post Solana Price Prediction: SOL Leads Altcoin Rally as Crypto Market Hits $4T – Is $1,000 Solana Already Confirmed? appeared first on Cryptonews.
