Analysts predict that Solana's price is expected to reach $200
Solana (SOL) price surged by 22% last month and continues to attract attention. The token broke through a double-bottom pattern and reached the $180 mark.
However, buyers failed to maintain the momentum. Additionally, a pullback to the 20-day moving average occurred this week. Solana's price has re-tested the breakout area around $160, with the next target being continued upward movement.
Despite a weekly price pullback of over 10%, Solana cryptocurrency still shows bullish signs. Multiple analysts have revealed their optimistic outlook for Solana.
Analyst Daan shared a tweet on X regarding cryptocurrency. In that tweet, the analyst emphasized that Solana's price has re-tested the green line support area around $160.
Similarly, Bitcoin Buddah stated in his post that the candlestick chart structure of Solana looks good. Furthermore, daily trading volume continues to soar.
The SOL price analysis in the daily time frame resembles a bullish stance. The SOL cryptocurrency price is trading at $162, down over 2.70% intraday. Its market cap is $76.3 billion, with a total supply of 587.67 million coins.
Data from Artemis shows that active address data appears flat, at about 5.7 million. However, there was a slight decline in the past week. This indicates that new addresses have lost interest.
