Solana Price Prediction as Bulls Push SOL Above $100 – Can SOL Reach $1,000?
The Solana price has jumped by an impressive 11% in the past 24 hours, surging to $105.60 as the wider crypto market responds to the SEC approving several Bitcoin ETFs yesterday.
SOL has now risen by 49% in the last 30 days and by a whopping 566% in the past year, making it one of the best-performing major tokens of 2023.
Yet 2024 could be even better for SOL, which remains 58% down from its all-time high, and which continues to accumulate momentum in parallel with the growth of the Solana network.
SOL’s chart and indicators are beginning to pick up again after a difficult start to week, which saw investors lose confidence that the SEC would approve Bitcoin ETFs.
After dipping below 50 during the weekend, SOL is now touching 60 once again, signalling rising momentum that is likely to increase over the next few days.
Indeed, SOL’s 30-day average (yellow) continues to push well beyond its 200-day (blue), offering a sign that the alt remains in the middle of a strong growth phase.
It’s also encouraging that SOL’s 24-hour trading volume has risen just beyond $4.6 billion, which is indicative of strong buying interest in the token.
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