Solana (SOL) price looks poised for a breakout as bullish momentum builds, pushing the cryptocurrency to a three-month high. While persistent resistance tests its upside, SOL now signals the potential for further gains, garnering attention from investors who are closely following its movements. As November approaches, speculation is growing as to whether Solana’s price will reach $300 and potentially surpass BNB.
Will Solana Price Target $300 After BNB Coin Gains?
The cryptocurrency analyst highlighted Solana’s favorable price action with an X. He shared a chart showing Solana’s breakout from a long-term symmetrical triangle pattern. According to the analyst, this development signals the potential for a significant price increase with targets up to $300.
Analysts predict a massive rally for Solana, indicating that the breakout could push Solana’s value up by more than 65%, targeting $300. The chart further shows an ascending curve, underscoring the expected bullish momentum.
Solana’s price has reached a noteworthy milestone, surpassing Binance Coin to become the fourth-largest cryptocurrency by market cap, currently valued at $89.14 billion. At the time of writing, BNB price is hovering at $595 and the market cap remains at $85.87 billion.
SOL price surges as market rebounds after election
The first-tier cryptocurrency is seeing strong performance, with SOL last seen at $189, up 4% in the past 24 hours. This price action reflects a one-day range from a low of $183 to a high of $191, indicating a significant rise in investor interest. Over the past month, SOL prices have risen 31% as markets surged following the U.S. election.
Today, the cryptocurrency market remains bullish, reflecting strong investor confidence. Bitcoin briefly reached $76,000, while Ethereum surpassed $2,800, sparking growth for other altcoins and stimulating the industry.
In the current bullish trend, Solana price prediction indicates a possible breakout above $195. Such a move could set the stage for reaching $200 this week.
Daily technical indicators for Solana’s price on the 4-hour chart show a continued bullish trend. The Relative Strength Index (RSI) is currently at 70, suggesting that the asset is approaching overbought conditions.
Solana’s current bullish momentum suggests that it has the potential for continued growth. A breakout above resistance could push SOL to $300. Investors are increasingly optimistic, especially as Solana’s market cap surpasses Binance Coin. Sustained demand and technical indicators support this bullish outlook.
#山寨季将至？ $SOL