SOL Might Hit $200 in May 2024 Thanks to $260M Signal: Analysis
In May 2024, Solana’s price surged past $155, marking a gain of over 25% for the month. This rise comes amidst a broader uptrend in the global crypto market, with major assets like Bitcoin (BTC) and Ethereum (ETH) leading the charge. Solana, along with these mega-cap cryptos, has benefited from this rally.
As of now, Solana is trading around $155, reflecting a substantial 31.9% increase in just the first six days of May 2024. Analysts attribute this ongoing crypto market recovery to positive reports on US economic indicators. But what’s really catching attention is a bullish signal from Solana’s derivatives market, suggesting potential for further price gains ahead.
