Solana SOL has skilled important good points over the previous weekend, seeing it rebound over the $150 mark. The asset’s worth surged above the $150 resistance on Monday, displaying good points above 25% over the past three days. SOL has seen a growth in buying and selling exercise, which suggests aggressive shopping for amongst buyers. This, in flip, is bullish information for the token and indicators a possible rally incoming.
At press time, SOL is again as much as over $153, up 4% within the final 24 hours. Over the previous three weeks, Solana has been in an attention-grabbing place, as Solana ETFs being proposed sparked optimism across the token. The Solana Community has additionally had a really constructive 2024, particularly as a result of its meme cash.
Moreover, Bitcoin additionally had a worthwhile weekend, rebounding again over $63,000 to $63,204.76 at press time. The asset, being crucial and helpful available on the market, typically spells out the trail for different crypto belongings. This contains SOL, which is following Bitcoin’s present bullish path to new income.
Will Solana SOL Goal $170 Throughout Rally?
Now that Solana SOL is on the mend, there’s hypothesis of the token rallying to $170. A soar of $20 in worth corresponding to that will surely take a while, however isn’t outright unimaginable. If the bulls maintain the reigns for Solana, the community’s token might blow up alongside Bitcoin. Nevertheless, the distinction between these two belongings is that Bitcoin ETFs had their hype a couple of months in the past. Alternatively, the hype round Solana ETFs has solely simply begun. Subsequently, the SOL token might be headed for a $170 valuation within the coming month.
Past July, August, and September is also bullish if the SEC makes any selections on the Solana ETFs. After $170, Solana Bulls might start speculating a $200 worth for the coin. Though excessive, the prediction isn’t unimaginable, as nothing is unimaginable within the crypto market. We watched Bitcoin explode to an all-time excessive following ETF approval in simply over a month. Subsequently, if a Solana ETF is taken into account and permitted, Solana’s ATH of $259.96 could be examined sooner or later.