While many assets in the cryptocurrency industry continue to trend near all-time highs (ATHs), solana (SOL) seems to be trying to reach the same levels, especially after breaking out of the downtrend by breaking a critical resistance level.
Notably, Solana recently broke through the descending trend line, breaking the $195 resistance and has been confirmed as support in “today’s sudden decline,” according to observations shared by crypto analyst CryptoJelleNL on April 1.
Solana Price Forecast
As the crypto expert noted, this is the beginning of a meteoric rise towards the $250 level, which is very close to Solana’s ATH of $259.96 reached on November 6, 2021 and would represent a 27.34% increase from its current price it could be.
Solana is currently trading at $196.33; This represents a very small decrease of 0.06% in the last 24 hours, a gain of 3.84% in the previous seven days, an advance of 52.22% on the monthly chart and, according to the latest data, a gain of 93.09% this year. indicates a significant increase.
Recently, Solana’s progress has been consistently outperforming Ethereum’s (ETH) transaction volume. Notably, Solana’s transaction volume coincides with an increase in stablecoin transaction volume on its network, which last stood at $75.15 billion on April 1, compared to Ethereum’s $9.55 billion. This may reflect Solana’s growing popularity and demand among users.
As a result, it appears that Solana, currently the crypto industry’s fourth-largest asset by market cap, could skyrocket to predicted heights. However, it can be difficult to predict the SOL price precisely. Therefore, it is important to do one’s own research before investing and stay abreast of any news or developments regarding Solana. This way, investors can make more informed and informed decisions.
