Solana price has seen a 2% increase, reaching $142.27 in the last 24 hours, following a brief recovery. The price remains above the $140 level, showing signs of renewed strength. This wave comes as Solana rebounds sharply off a major support zone, and investors are optimistic that a bigger trend reversal will take place.
The token has been able to overcome the overall crypto market slowdown and is resilient. The Bitcoin price hovers around $91k, with the SOL price looking at more gains, with traders looking at the $200 mark
Solana Spot ETFs Surge with $55M Inflows
Solana spot ETFs recorded a high net inflow of over $55 million and one of the highest net inflows of two weeks. The majority of these inflows were the product of the BSOL ETF of Bitwise, which is still a trend of positive flows.
The overall streak of inflows has now reached 16 days. The ETFs of other issuers, such as Grayscale, Fidelity, Vaneck, and 21Shares, also contributed strongly, indicating the emerging interest by investors in assets based on Solana.
Solana DApps Generate Over $16 Million
Solana DApps have received over $16 million within the past seven days. The best performers in Solana coins are the Pumpfun that generated $9.85 million, and Ore, that made an income of $3.02 million.
Other important contributors are Phantom, Drift, and Trojan. Nonetheless, Axiom went into a loss of 652,000. This increase in revenue demonstrates the rising popularity and possibilities of the decentralized applications of Solana to the blockchain ecosystem.
Source: XSolana Price Shows Bullish Potential with Wedge
A crypto analyst has recently indicated a nice arrangement to the Solana price, citing a neat falling wedge pattern on the daily chart. The analysis shows that the price of SOL has been bouncing on the lower trend line so that it shows that the momentum is changing.
Breach of this framework would spell out a powerful recovery period of Solana. Market observers are reading this as a positive sign, which is causing hopes of a strong performance of the coin in the near future.
Solana Price Surge: Will Bull Trend Continue?
The price of Solana surged to $142 after a slight market recovery. A breakout above these levels could push the price towards $157.
If the rally continues, a detailed Solana price analysis suggests that Solana could see a substantial gain of up to 40%, potentially reaching $200.
Source: SOL/USD 4-hour chart: TradingviewSolana trading has also been performing significantly in this bullish market. There is a positive trend in the MACD (Moving Average Convergence Divergence) indicator.
The MACD line has passed over the signal line, and there is a possibility of the upward momentum continuing. In the meantime, the RSI (Relative Strength Index) is 53.65, which indicates a neutral trend.
However, if the price fails to sustain above $142, SOL could face some downside pressure.
Source: https://coingape.com/markets/solana-price-prediction-key-indicators-that-could-propel-sol-toward-200/
