Solana SOL It has seen a significant rebound in price over the weekend. Price of the asset surged past the resistance level at $150 on Monday. Gains above 25% were recorded over the previous three days. SOL is experiencing a surge in trading, indicating that investors are buying aggressively. The token is likely to rally as a result of this news.
SOL has risen to $153 at the time of publication, up 4% over the last day. Solana’s position has changed over the past few weeks as Solana-related ETFs have sparked considerable optimism. It is also worth noting that the Solana Network’s 2024 has been very successful, mainly due to meme coins.
Bitcoin, too, had a successful weekend. The asset, being the most important and valuable on the market, often lays out the path for other crypto assets. As the asset is the most significant and valuable in the market, it often acts as a guide for the other crypto assets. SOL is one of the assets that follows Bitcoin’s bullish trend to make new gains.
Also Read: Bitwise Says SEC is Open to Solana ETF After Ethereum Launch
What is the Solana SOL target for $170 during rally?
There is a rumor that Solana SOL will rally to $170 once it is back on track. This $20 increase in value would be a slow process, but not out of the question. The network’s Token could explode along with Bitcoin if the bulls are in control of Solana. Bitcoin ETFs have been a hot commodity for a couple of months now, while Solana ETFs are still in their early stages. However, Solana-related ETFs are only now beginning to gain traction. The SOL token may be heading for $170 in value within the next month.
The SEC could make a decision on Solana ETFs in August or September. Solana Bulls might start to speculate a value of $200 for the coin after it reaches $170. The prediction, although extreme, is not impossible as there is nothing impossible on the crypto-market. In just over a week, Bitcoin exploded to a new all-time record high after ETF approval. Solana’s all-time high price of $259,96 will be tested if an ETF for Solana is approved.
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Source: watcher.guru
