Solana price remains above the psychological $150 mark as Bitcoin price breaks above the $67,000 mark.

With a market cap of $72.15 billion, SOL continues to rise in price. Will Solana’s breakout above $150 lead to an explosive rise in Uptober? Learn more about our SOL price analysis below.

Solana (SOL) Price/Performance Rise 7.35% in the past 7 days and the altcoin is up 17% in the last month. However, on the daily chart, local resistance trendlines remain dominant and inhibit bullish growth.

Solana Price Chart Trading View Despite a massive 16.38% increase in price from the 7-day low of $135, the altcoin has failed to stage a breakout rally. The bullish failure resulted in a 1.78% drop yesterday and a 0.63% intraday correction.

Solana price is struggling to maintain dominance above the $150 mark as the double bottom breakout rally reverses from the upper trendline. Daily Active Addresses Reach ATH As SOL price recovers, the number of daily active addresses hit an all-time high of 4.61 million on October 14 and currently stands at 4.51 million.

As the Solana network expands, the growing demand will drive the price of SOL in DeFi and the broader crypto market.

Will Solana reach $200? Despite the short-term increase in price volatility, Solana's absorption in the 50-day moving average remains positively aligned with the 200-day moving average. Moreover, the bullish crossover of the MACD and signal lines is on a positive trajectory.

Therefore, Solana's technical indicators remain optimistic. With the breakout of the upper trendline during the broader recovery, SOL price may challenge the $186 resistance level and then the $201 mark.

On the other hand, a decline and extension of the pullback may challenge the $147 support level, followed by the 200-day moving average at $141.

Curious about the future of Solana? Read our Solana (SOL) price prediction for an overview of long-term goals!