With a surge of 8.54% in 24 hours and a trading volume of $3.283 billion, this altcoin has successfully reclaimed the $150 mark.
As the crypto market crossed the $2.20 Trillion in market capitalization, Solana token price recorded a bullish reversal. With its latest announcement regarding launching the second crypto phone dubbed as “Seeker” in 2025, the native token “SOL” gained momentum.
Solana funding hit a 2-month high, which could be another potential reason for the recent price surge. As the SOL token price gained momentum, will it reclaim $200 this Q4? Continue reading to find out the latest Solana price analysis.
SOL Coin Price Records Breakout Rally!
With a price surge of 8.54% in 24 hours and a trading volume of $3.283 Billion, the altcoin price successfully reclaimed the $150 mark. Moreover, it broke out of the resistance trendline of the symmetric triangle pattern in the 1D time frame.
Furthermore, it jumped 6.28% during the past week and recorded a return of ~49% this year alone. Notably, with the recent price pump, it surpassed the market cap of $70 Billion, ranking as the 5th most valued cryptocurrency in the market.
Solana Technical Sentiments:
The Relative Strength Index (RSI) in the 1D time frame recorded a sharp rise toward the overbought range. Moreover, its average trendline supports the price trend, indicating an increase in the buying pressure for the altcoin in the market.
In addition, the MACD indicator displayed a constant rise in the green histogram with its averages recording a similar price trend. This highlights that the Solana price will continue gaining value in the coming time.
Will SOL Price Ever Recover?
If the market continues gaining momentum, the Solana crypto price will test its resistance level of $155. Further, if the bullish sentiment intensifies, it could lead to it heading toward its upper high of $181 this month.
Moreover, with the market regaining momentum and a highly anticipated Uptober, the SOL coin price could make a run toward its target price of $200.
On the flip side, a trend reversal could pull the price of Solana crypto toward its crucial support level of $127 during the upcoming weeks.
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