Solana (SOL) price forecast new ATH with 35% weekly gain
Solana became the fourth largest crypto, SOL price hit a new high of 52W and crossed the $200 resistance. With a bull run in action, Solana's bullish potential grows and plans to set a $250 price target.
Will the New Crypto Bull Run Set a New All-Time High for Solana in 2024? Let's dive into Coinpedia's latest Solana price analysis.
Solana (SOL) price performance
Breaking above the $200 psychological mark, the ongoing bull run in Solana saw prices jump 35% last week. Solana hit a new 52-week high at $215.
Marketing perspective
However, an intraday return of 1.67% lowers the current trading price to $206.70. The retracement teases a retest of $201.69 or the 100% Fibonacci level.
Technical indicators:
EMA: The critical Exploratory Moving Average lines expect 50-day, 100-day and 200-day positive alignments, giving Solana a buy signal.
RSI: The minor reversal brings a slight dip as the RSI line enters the oversold territory. Therefore, the speed indicator supports retrying to increase the room for growth.
Will Solana cost $250?
The $201.00 resistance level could lead to a double top reversal in April 2024. A post-test reversal by Solana could challenge $222.00 or $249.00 at the 1.272 or 1.618 Fibonacci levels.
Therefore, the post-experimental reversal from this level can achieve high stimulation. Additionally, it indicates a high entry opportunity for price action traders.
Excited about Solana's future? Read our Solana (SOL) price forecast for an overview of long-term targets!
Questions to be asked
Solana's strong bull run broke the $200 psychological level with six consecutive bullish candles to reach a 52-week high.
Critical levels include the 1.272 and 1.618 Fibonacci extensions at $222.00 and $249.00, respectively.
Yes, a retest of $201.69 provides a high entry point, supported by positive EMA alignment and oversold RSI levels.
