Key Insights
- Solana (SOL) price prediction to $150 in focus as the crypto challenged the $140 wall today, but failed to break through the resistance.
- Coinbase has extended support for Solana tokens, which have lifted the market sentiment.
- The CLARITY ACT may help trigger a SOL price rally to $400.
The Solana price prediction to $150 and beyond is once again gaining traction as SOL price rallied nearly 6% today.
The crypto has challenged the key resistance at $140 again today but has failed to break through the wall, which has sparked discussions among traders.
However, the recent market trends for Solana hint at a major surge ahead for the asset.
Amid this, the analysts have highlighted the key SOL price levels to watch for cues on the potential future movement of the asset.
In addition, one expert has revealed a key condition that may validate the Solana price prediction to $150 in the near future.
These bullish developments, amid the soaring price, also came in tandem with the sustained institutional interest, as evidenced by the recent fund flow into the US Spot Solana ETF.
The sentiment was further buoyed by the latest comment of Bitwise CIO Matthew Hogan, who has hinted at buying SOL at a discounted price.
On the other hand, the leading crypto exchange, Coinbase, has also extended its support for the Solana network.
So, here we explore the latest performance of the Solana price and see what might have triggered the rally in the asset.
Top Reasons Why SOL Price is Soaring
Solana price has added around 6% today and traded at $138 at the time of writing, witnessing a slight retreat from its 24-hour high of $140.
Notably, the crypto has recovered from a daily low of $130, which was primarily caused by the broader crypto market selloff.
However, the recovery in the broader digital assets space might have helped gain in SOL price.
Besides, it has also fueled optimism over the bullish Solana price prediction to $150 or even higher in the near future.
Meanwhile, it seems that there’s more to it behind the recent surge in SOL price, apart from the random fluctuation in the broader market.
One of the major reasons for the surge is Coinbase’s decision to extend its support for Solana, making every SOL token available for instant trading to its 100 million users.
This move has increased accessibility and exposure for the cryptocurrency, likely boosting investor confidence.
Another key driver is the growing interest in the US Spot Solana ETF, with institutional investors showing sustained enthusiasm.
According to Farside Investors’ data, the US Spot Solana ETF has recorded an inflow of $11 million on December 11, marking its six-day inflow streak.
Besides, the total inflow into the investment instrument since launch reached $671 million through Thursday.
Amid this, Bitwise CIO Matt Hougan has publicly praised Solana, stating that their Solana ETF has been buying 3 to 4 times the network’s new issuance since launch.
Besides, he said that this is “the most exciting opportunity in crypto at current prices,” which has further supported the bullish Solana price prediction ahead.
Solana Price Prediction to $150, Here’s All
Amid the latest bullish developments in the market, a renowned expert has shared a bullish Solana price prediction.
In a recent X post, analyst JamesEastonUK has shared a SOL price chart, which highlighted $139 as a major support.
The expert said that if the crypto can break through the level, the next target would be at $144, $148, or higher.
However, analyst Ali Martinez noted that Solana price is consolidating between the $124 and $145 levels, and that is stalling its much-anticipated rally.
Having said that, it seems that the crypto must break through the $145 resistance first to continue its upward momentum ahead.
Adding to the sentiment, Anthony Scaramucci has reportedly said that the passing of the CLARITY ACT would trigger a SOL price surge to $400.
In addition, he has shared a Solana price prediction of $1,000 in the next five years, which has further showcased his confidence in the asset.