Solana Price Analysis: Will SOL Hit $40?
Solana has experienced a 15% surge in the past week, reaching a price of $32. This growth can be attributed to bullish technical and fundamental events. The question on everyone’s mind is: could SOL hit $40 for the first time since August 2022?
Market Signals and Analytics
The Solana 4-hour price chart indicates an uptrend forming into a wedge, suggesting a potential cooling-off period within the rally. Support from the 20-day EMA and RSI indicator near oversold territory signal a possible continuation of the uptrend.
- DeFiLlama data shows an uptick in Total Value Locked (TVL) and revenue, reflecting growing community interest.
- VanEck’s price prediction for SOL in 2030 ranges from $10 (bear case) to a staggering $3,211 (bull case), based on various data points and qualitative analysis.
- However, there are concerns within the market, with some traders expecting a sell-off due to ongoing issues regarding FTX’s SOL holdings.
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