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SOL Rallies Past $150 Zone: New All-Time High?
The Solana price rose 13% in a week to $154 today, up 0.2% in 24 hours.
The currency has down 11% in the previous 30 days despite a 600% year-to-date surge.
SOL has been strong in recent months, and its medium- and long-term momentum suggests it might easily perform a couple more rises.
With signs showing increase, SOL's chart is looking positive.
After falling early this morning, SOL's relative strength index (purple) has risen above 50 and is poised to reach 70.
A few days ago, the coin's 30-day average (orange) surged above the 200-day (blue) and still has room to advance.
SOL's resistance (red) and support (green) levels are increasing and converging, another optimistic indicator.
With Solana's trading volume over $3.2 billion, a major surge may be imminent.
However, whales may still be selling, so the Solana price may tumble again before recovering.
Since miners were pressured by last week's Bitcoin halving, Solana and the market are both jittery.
Macroeconomics are also uncertain, with reports indicating the Federal Reserve may postpone its much-anticipated rate decreases.
If history is any indication, the latest Bitcoin halving will steadily increase demand, while such cutbacks will eventually occur.
This will assist the Solana price rise, since the currency remains one of the strongest fundamentally.
Demand for SOL-based meme currencies and NFTs has increased the Solana blockchain's locked-in value by nearly 800% since November to $4 billion.
Such tendencies might increase the coin's price to $300 by the fourth quarter.
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