Solana’s SOL token is presently expertise a bullish surge, rising 16% in the previous few weeks. The token has already jumped to over $150 in valuation, with $175 wanting like the following cease.
Solana’s native token has struggled with breaching the $150 resistance level. Nonetheless, analysts lengthy suspected that upon overcoming that resistance, SOL might soar. Presently, the asset is buying and selling at $152 at press time. Flipping $150 was the catalyst for a Solana increase, which can doubtless be seen over the approaching weeks bar any excessive bearish occasion.
Solana is garnering hype within the crypto business because it continues a bullish 2024. Lately, the primary Solana-based ETF software was introduced. Bitcoin has already seen ETF success since January, and a Spot Ether ETF is predicted to return any day now. Main monetary giants Ark21 Shares and VanEck have filed for potential Solana ETFs, with many extra anticipated to share filings quickly.
Is Solana SOL Heading to $175?
With new ETF filings within the midst, market confidence in Solana is actually on the rise. Earlier worth predictions for SOL had it reaching as excessive as $170 at first of August. Nonetheless, this new bullish soar might even see SOL hit increased than that even sooner.
The present all-time-high for Solana SOL is $260. Whereas the asset continues to be far-off from that worth per token, Solana ETFs may very well be the gas the asset must reclaim that top. The token has a present market cap of practically $70B, and has seen quantity within the final 24 hours of $1.74B. A growth in buying and selling exercise and information like Spot SOL ETFs solely means good issues for the asset this summer season.
Solana, outdoors of Bitcoin and Ether, has been one of the best performing crypto asset of 2024. Now that $150 has been breached, the token has extra room to develop, and may very well be in for a fruitful summer season that sees it propel in direction of $175 and even $200.
