Solana: Will SOL Reach $200 This Week Or Fall To $150?

The 2024 bullish phase was holistically dedicated to Solana and its stellar ecosystem in its entirety. SOL was able to breach new price milestones this season, due in large part to the meme coin surge that the ecosystem has encountered as of late. March was particularly lucrative for SOL as the token was able to finally breach its long-awaited $200 mark. However, the token since then has fallen back, slowing its pace to trade at a level of $160–$170.With mounting pressure to cross the $200 mark again, Solana is currently displaying a consolidation phase, bringing in qualms about its potential new ATH. Will it be possible for SOL to cross $200 this week? Here’s what the experts have to say. Per a recent TradingView report, Solana seems to be stuck in a prolonged consolidation phase, which is hindering SOL’s ascent to new price peaks. With the meme coin surge frenzy taking over, SOL’s price was quick to skyrocket to $200, where bulls entered the realm to assist the token in maintaining its price above $180. As the meme coin momentum subsided, SOL is now trading at level $165 for quite some time, displaying a consolidation streak to its price.“With the resurgence of meme coin mania, Solana also received significant momentum. The bulls used all their strength to keep the value above $180, but the growing bearish strength caused a notable pullback. As a result, the SOL price is consolidating strongly within a narrow range of $163 to $172.”

However, the experts at TradingView have dubbed the current SOL consolidation period a positive one. Per the analyst, SOL’s latest price consolidation phase can end up catapulting the token to new highs, provided it continues to bask and explore the bullish phase of the market.

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