The Solana (SOL) Ecosystem Is Ripe with Pre-Year-End Yield Farming Opportunities

SOL is known for its explosive moves either up or but with the next bull run thawing, a breach of the psychological $200 resistance level could trigger a major upturn in select crypto projects.

Solana price is dropping to collect liquidity before the next leg up, and these tokens are set to explode.

The Solana ecosystem is presenting a wealth of opportunities for investors to capitalize on and amplify their yields before the year concludes. While SOL is renowned for its explosive price movements, either surging or crashing, the next bull run is slowly defrosting. A breach of the psychological $200 resistance level could trigger a major upturn in select crypto projects.

Solana price is approaching a critical support zone at $140 after retracing gains accrued during this week’s brief trend reversal to $160. The 200-day Exponential Moving Average (EMA) bucks the demand area, suggesting that the next rebound could extend past $160 to form a new trend targeting $200.

Traders will be watching for a potential bounce from the 200-EMA support at $140 before the week closes with intentions to buy and hold both in the short-term and long term. Day traders will have short-term goals at $150 and $160, but whales and other long-haul investors may want to hold onto the token at least until it is $200.

While trading Solana promises massive returns, some coins within the ecosystem could yield more. Bonk (BONKL), Slerf (SLERF), and Popcat (POPCAT) are the best altcoins to buy before SOL price climbs above $200. All the tokens are trading at an impressive discount from the all-time high, which will ensure that investors significantly maximize profits.

1. Bonk

BONK is a top meme coin token on the Solana blockchain. It functions as a community-driven asset, fostering engagement and supporting various projects within the ecosystem. BONK plays a crucial role in promoting decentralization and community-driven initiatives, contributing to the overall health and vibrancy of the SOL network.

Investors can focus on the dollar-cost average strategy as Bonk price seeks support amid the sell-off in August, especially with the Moving Average Convergence Divergence (MACD) indicator set to send a buy signal on the four-hour chart. Similarly, the ascending trendline support near $0.000018 would be a good entry position to take an early positon before the next bullish breakout.

2. SLERF

SLERF is a SOL-based token that incentivizes liquidity providers through serum decentralized exchange. It rewards users who contribute liquidity to Serum pools, promoting market depth and facilitating efficient trading. SLERF plays a crucial role in the ecosystem by ensuring the smooth functioning of DEXes and attracting liquidity to the platform.

The token has regained strength in the last few days, increasing by over 3% to $0.1566, Coingecko shows. It boasts a market cap of $78 million, attracting a trading volume of more than $15 million in 24 hours. A trend line support adds credence to the potential recovery, with bulls expected to push past the green supply area to ground the reversal in the coming weeks.

Should pressure increase on the sell-side and the trend line support crumble, investors will consider lowering their entries to $0.15, $0.14, and August’s lowest point to $0.1283. Resistance at $0.18 and $0.2 may delay the rally even if SOL price rises to $200.

3. POPCAT

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