With the Bitcoin price trading at all-time high levels, the altcoins are shining in the crypto sky and teases a solid uptrend. Amidst the recent top performers, the SOL price shoots up the night to reclaim the psychological mark of $150.
Further, with the quick turnaround in a year from the depths of $10 to crossing the $150 mark, Solana showcases immense upside potential. Will this top performer find its way to $250? Well, for such curiosities, check out our SOL price prediction.
Can Solana Price Break Above $158?
With the recent bounce back, the SOL price is crossing beyond the $150 mark, making a new milestone in 2024. Further, the buyers finally assert dominance above the $140 supply zone, projecting a strong uptrend.
Source – TradingView
Further, in the weekly chart, with Solana crossing above $150, the price action signals breakout fo an inverted head and shoulder. This is bullish reversal pattern known for huge breakout rallies, increasing the chances of SOL hitting $250.
Currently, the SOL price trades at $151.77 with an intraday gain of 1.94% and continues the streak of bullish candles. In the last three weeks, the altcoin has increased by 47% and created a triple white soldier pattern.
Technical Indicators:
MACD Indicator: The MACD and signal lines give a bullish crossover, highlighting a trend reversal for Solana. Amidst the ongoing bull run, this crossover bolsters the bullish momentum.
Will SOL Price Give Massive Gains?
With the price chart showcasing multiple bullish catalysts, Solana is preparing for a massive jump as the market grows. Further, the rising volumes and the breakout events improve the credibility of sideline traders.
As the uptrend crosses above the 50% Fib level, the breakout of $158 will signal an entry spot for sideline traders. With this break, the uptrend can reach out to the previous peak close to $250.