Solana Breaks $200, TVL Rises to $6.855 Billion: Is a 52-Week High Coming?
The bull market continues, and Solana (SOL) has jumped back to the $200 mark. Can it surge straight to $250 this time? Let's see!
As the bull market heats up, Solana is also riding the wave, easily surpassing $200. With this momentum, reaching $250 doesn't seem like a dream, right?
Solana is soaring high, now ranking fourth in cryptocurrency standings. The market cap is $93.29 billion, having risen from $155 to now, surpassing the psychological barrier of $200.
Solana (SOL) Price Trend
Although it peaked at $201.19, it has now retreated to $197.67. However, this increase has seen four consecutive green candles, rising over 26%!
Looking at this price chart, it has climbed from $155 just a week ago. The rebound momentum is strong, and a 52-week high is just around the corner.
The Fibonacci levels are also supportive, firmly holding at $159.54. It is now pushing towards the $201.69 mark, aiming to set a new high.
Technical indicators are also optimistic: the MACD and signal line have crossed bullishly, signaling a clear upward trend. The 50-day and 200-day moving averages have also crossed positively, which is great news!
However, the 100-day moving average is still below the 200-day, so we need to be cautious in the medium term.
Solana Price Prediction
According to Fibonacci calculations, the next targets are $224 and $253. A 52-week high is within reach!
If the market trembles and drops, then $183.65 will be the bottom. But if this correction is healthy, Solana can continue to climb higher.
Solana Network TVL Has Also Increased
The SOL token is booming, and the Solana network is benefiting as well. The total value locked on the network is now $6.855 billion, not far from the 52-week high of $7.248 billion.
In the past 24 hours, Solana network fees generated $3.67 million, with a profit of $1.83 million. With more DeFi projects, the network continues to grow, and the demand for SOL tokens is rising.
Solana is on a strong upward trend, and we are eagerly watching!
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