Solana (SOL) Reclaims $150: How High Can SOL Trade This Week?
Solana (SOL) has successfully reversed its downward trend, rebounding from a recent low of $145.66 to reclaim the crucial $150 resistance level. This price action indicates diminishing sell pressure and renewed bullish sentiment. Is this the start of a major uptrend? Let's analyze Solana's potential this week.
Solana's Recent Performance: A Bullish Reversal
SOL gained pace after there was a close above the $145 resistance level, similar to Bitcoin and Ethereum. Finally, the bulls pushed the price above the $150 level. A high was formed at $153 before a slight retracement. Leading crypto token Solana has gained sudden market momentum and is now trading around $153.
Analysts Predict Modest Gains for SOL This Week
According to CoinCodex, Solana may note a modest price surge this week, adding 0.85% valuation to its price. The token may be exchanged at $153.42 or $153.78 by May 13. Per several analytical platforms, Solana may yet again deliver positive returns this week. Here's how high SOL may surge this week, according to different sources:
- CoinCodex: Potential high of $153.78
- Other Analytical Platforms: (See updated analysis below for more predictions as they become available)
Key Drivers of Solana's Momentum
The bullish onset of the market, coupled with the thriving network activity, has borne fruit for SOL, helping the token trade above $151. Solana reclaims $150 with over 12% weekly gain and nears 400 billion transactions, driven by top DEX volume and strong on-chain growth. Apps like PumpFun and Solana are contributing to the growing ecosystem.
Solana (SOL) Outperforms Ethereum (ETH)
Solana (SOL) has experienced a notable surge in its market value, reaching new all-time highs against Ethereum (ETH). Over the course of several days, SOL achieved significant gains in its SOL/ETH trading pair, demonstrating its growing strength relative to the leading smart contract platform.
Will Solana Continue its Upward Trend?
One of the leading crypto coins ruling the space at the moment is back on track. The token is gaining considerable market momentum again after dropping to previous lows. While analysts predict modest gains this week, the overall market sentiment and Solana's strong fundamentals suggest potential for further growth. Keep a close eye on trading volume and key resistance levels for potential breakout opportunities.