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.

SOLUSD 1-Day Chart

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.

Jerry Rolon

After working for 7 years as a Internet Marketer, Jerry now aims to explore the journalistic side of Internet. With his impeccable knowledge in this domain, he churns out some of the best news articles from the internet niche. With respect to acedamics, Jerry earned a degree in business from California State University.