solana Bulls Eye $150, What’s Next for the Asset?
Solana (SOL) gained momentum as crypto assets started the week with slight gains. Looking at the market, crypto prices appear to be attempting a breakout after previous losses. At the time of writing, the total market cap is up 2.33% in the last 24 hours to $2.31 trillion, prompting further bullish predictions.
As price volatility continues, assets like Solana have outperformed the market in its latest recovery attempt. Today, SOL price continues to lead the top 10 assets with weekly gains, following two ETF filings and previous entries. While bulls eye the $150 mark, bears believe that weak sentiment and volatility could make this mark unsustainable.
Will He Climb the Left?
Solana’s price has surged above other assets in the top 10 cryptocurrencies by market cap, except for Cardano (ADA). LEFT It is trading at $148.15, up 3.78% in the last 24 hours, trailing only ADA with a 5% recovery. The asset’s growth has pushed its market cap to over $68.5 billion, while daily trading volumes have increased by a whopping 45.8% to $1.89 billion.
While Solana’s weekly growth is indicating a renewed rally with gains of over 16%, the monthly figures are still in the red. Market analysts have predicted an upward trend for the asset based on the latest on-chain data.
Currently, SOL is below previously reached resistance levels after a decline in the broader market. As a result, the rally has been reduced Solana breast coins Bearish traders argue that decentralized finance figures and decentralized finance figures are important.
Bulls Target ETF
Recent filings for spot Solana ETFs continue to be a major driver of the asset’s price. This year, ETFs have buoyed the crypto market following major institutional investment in the sector. Spot Bitcoin ETF The approval in January changed the dynamics after the asset surged to an all-time high above $73,000. Ethereum products are also expected to surge this summer. Solana owners point to institutional inflows as a path to sustainable growth.
Then read on: Analyst Says dogecoin Price Could Try $2 in Memecoin Supercycle
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David is a financial news writer with 4 years of experience in the Blockchain Technology and Cryptocurrencies field. He is interested in learning about emerging technologies and has a talent for following breaking news. Following trends, David has reported on various areas such as regulation, partnerships, crypto assets, stocks, NFTs, etc. Away from the financial markets, David enjoys cycling and horseback riding.
The content presented may include the author’s personal opinion and is subject to market conditions. Do your market research before investing in cryptocurrencies. Neither the author nor the publication accepts any liability for your personal financial loss.
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