The post Solana Trades Within a Tight Range; A New ATH Above $300 Seems to be Inevitable—But When? appeared first on Coinpedia Fintech News
After rising over $97,000, the Bitcoin price has again dropped below the range that again has interrupted a continued bullish trend. With this, the selling pressure over the Solana price prevented the price from securing the highs above $190. Meanwhile, with less buying pressure, the bulls have managed to defend the support, hinting towards a potential ascending trend. Now the question arises: will the SOL price reach $200 before the end of the month?
Solana has made huge moves in recent times, technically and fundamentally, which has attracted huge attention. Whether it’s a potential spot for ETF approval or it’s excelling in the AI integration, which intends to power over 70% of the AI agents, the SOL price is expected to attract bullish sentiments. With this, huge liquidity in billions is expected to enter the markets, which will revive the SOL price rally towards new highs. Here’s When.
The weekly chart of the SOL price rally suggests an excess price squeeze after the latest drop from levels above $215. Meanwhile, the token is cosolidating secretly, which could push the price towards the edge of the consolidation. This could further revive the chances of rising above $200.
The latest rise has pushed the price beyond the ascending trend line, reviving the chances of reclaiming the $200 resistance. Interestingly, the +Di & -Di levels have displayed a divergence, which could further revive hopes for a bullish crossover suggesting a major change in the trend. On the other hand, the MACD is about to validate a bullish crossover and could probably enter the positive range, suggesting the start of a fresh ascending trend.
Once the Solana price secures the resistance zone, a rise to $225 could be validated, but only with a massive influx of buying volume. Until then, the price may continue with its horizontal consolidation below $250. However, market sentiments are expected to rise later this year and with this, a strong ascending trend could be validated.