Is Solana Poised for A $115 Price Rally?

Rekt Capital, a well-known cryptocurrency analyst, tweeted a positive view of Solana (SOL).

They indicate that the digital asset will likely continue to rise in value. Moreover, the analyst states that SOL has been sticking to a planned path, shown in orange, with an impressive 33% surge.

Solana Potential Surge

Solana has strong positive momentum after breaking into its black-black range from a few weeks ago. Any possible dips into the $98.98 range are seen as a return to the old range low. 

This makes it possible for the price to soar to at least $115, which excites SOL buyers and the cryptocurrency community as a whole.

https://twitter.com/rektcapital/status/1752302496419033107?ref_src=twsrc%5Etfw” target=”_blank” rel=”noopener

Per the latest available data, Solana is currently trading at $104.71, reflecting a 7.68% increase in the last 24 hours and a substantial 30.89% surge over the past seven days. The 24-hour trading volume for SOL has also experienced a significant uptick, rising by 63.57% and reaching $3,348,860,287.

The market capitalization of Solana has seen an 8.14% increase, now standing at $45,452,339,907. Despite the bullish trend, Coinglass statistics show traders lost $9.70 million in the last 24 hours. Long liquidations cost $1.95 million, and short liquidations bring in $7.75 million.

While positive sentiment and price appreciation prevail, traders are cautioned to remain vigilant to potential market volatility. Individuals are paying attention to Solana as a strong player in the meme coin segment.